The Indian Rupee is also witnessing a sharp decline in its value. (Representative Image) Info-farmer (Wikimedia Commons)
Economy

India's GDP growth rate to see decline predicts World Bank

Citing the deteriorating global scenario, the World Bank on Thursday downgraded India's GDP forecast for the current fiscal to 6.5 percent.

NewsGram Desk

Citing the deteriorating global scenario, the World Bank on Thursday downgraded India's GDP forecast for the current fiscal to 6.5 percent. In June 2022, it had projected that the Indian economy will grow at a rate of 7.5 percent.

In April also, the World Bank had cut India's GDP forecast from 8.7 percent to 8 percent. 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 percent to 7 percent, citing the tightening of rates by the US Federal Reserve and the prevailing geopolitical scenario. (KB/IANS)

How to Store Vape Juice in Good Condition

Book Your Airport Taxi Limo Service Today for a Smooth and Stylish Arrival

American Children Who Appear to Recall Past-Life Memories Grow Up to Be Well-Adjusted Adults

In the ‘Wild West’ of AI Chatbots, Subtle Biases Related to Race and Caste Often Go Unchecked

Future of Education with Neuro-Symbolic AI Agents in Self-Improving Adaptive Instructional Systems