World Bank cuts India's GDP growth outlook

New Delhi, Oct 6 (IANS): Citing the deteriorating global scenario, the World Bank on Thursday downgraded India's GDP forecast for the current fiscal to 6.5 per cent.

In June 2022, it had projected that Indian economy will grow at a rate of 7.5 per cent.

In April also, the World Bank had cut India's GDP forecast from 8.7 per cent to 8 per cent.

At the same time though, it noted that India's economic recovery is faster than the rest of the world.

The forecast has come just days before its annual meeting.

The Reserve Bank of India (RBI) had also cut the economic growth projection for 2022-23 from 7.2 per cent to 7 per cent, citing tightening of rates by US Federal Reserve and the prevailing geopolitical scenario.



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Comment on this article

  • Jossy Tauro, Mangalore

    Fri, Oct 07 2022

    Jai ho Modi and Feku Team. But Andhbhakts will say India is fast growing .

    DisAgree [7] Agree [17] Reply Report Abuse

  • Jossey Saldanha, New York

    Fri, Oct 07 2022

    Amrut Kal ...

    DisAgree [5] Agree [10] Reply Report Abuse

  • Vinod Kumar, Mangalore

    Thu, Oct 06 2022

    During 2008 global economic melt down India under congress rule was the only country in the world doing exceptionally well economically and all the countries of the world formed beeline to invest in India. During that time India’s GDP grew 25% whereas rest of the countries were growing at 5% on average. Even Indian origin CEOs of MNCs relocated to India. After 2014 everything has gone opposite people running away from India with thier businesses. Covid and global scenario are only excuses for BJP. Even otherwise our economy is going down since 2014 with GDP -35%, unemployment 75 years high, banks merging, rupee going down and exports virtually stalled. All these datas are in comparison with before 2014 during congress rule.

    DisAgree [5] Agree [20] Reply Report Abuse

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