World Bank predicts that India's economy will slow in FY24, with GDP growth of 6.3%

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• Apr 4, 2023 | Kabir Chakraborty

According to the report, India's inflation will fall from 6.6 percent to 5.5 percent in the current fiscal year.

Digital Desk: According to a
recent World Bank report, India's economy is expected to slow to 6.3% in the
current fiscal year due to lower consumption due to slower income growth.

According to a recent World
Bank report, India's economy is expected to slow to 6.3% in the current fiscal
year due to lower consumption due to slower income growth.

According to the report,
India's inflation will fall from 6.6 percent to 5.5 percent in the current
fiscal year.

In FY24, the current account
deficit (CAD) is expected to be 5.2%.

The Economic Survey
forecasted 6.5 percent growth for the current fiscal year, while the RBI's most
recent projection forecasts 6.4 percent growth for FY24.

"The actual outcome for
real GDP growth will most likely be in the range of 6.0% to 6.8%, depending on
the trajectory of global economic and political developments," according
to the survey.

CRISIL has pegged India's
growth in FY24 at 6 per cent due to a challenging global macroeconomic
environment.