Categories: Economy

World Bank upgrades India’s GDP growth forecast for 2022-23 to 6.9 percent

According to the World Bank, Indian economy is set to grow at 6.9 per cent in 2022-23, raising its forecast of 6.5 per cent growth made in October. In October, it had cut India’s GDP growth forecast to 6.5 per cent from 7.5 per cent earlier. Now, it has upgraded the projection to 6.9 per cent for 2022-23 (April 2022 -March 2023).

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Key points:

The institution said that the government is expected to meet the fiscal deficit target of 6.4 per cent of the GDP in 2022-23.
The World Bank saw the government meeting the fiscal deficit target of 6.4 per cent of the GDP in 2022-23. It expected inflation to be 7.1 per cent in current fiscal year.
The country however remains affected by spillovers from the US, Euro area and China. The World Bank saw the government meeting the fiscal deficit target of 6.4 per cent of the GDP in 2022-23. It expected inflation to be 7.1 per cent in current fiscal year.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.