World Bank lowers India’s FY23 forecast

Published By Livemint | 07 Oct, 2022

World Bank has lowered India's 2022-23 growth rate to 6.5%.

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In the previous report,it had projected the growth rate to be at 7.5% for the period.

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It further expects India to grow at 7% and 6.1% in 2023 and 2024 respectively.

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The report also highlighted that India recovered more strongly than the world average riding on the exports and service sector. 

It considers India's 'ample' foreign reserves to be serving as a buffer to external shocks.

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