World Bank cuts India’s Growth Forecast to 6.5% for FY23 – The World Bank slashed India’s growth forecast for 2022-23 (April-March) by 100 basis points and estimated that the Indian economy will grow at 6.5% compared to its earlier estimate of 7.5% released in June 2022.
- Last week, the Reserve Bank of India reduced its growth estimate for FY23 to 7% from the 7.2% estimated earlier.
- Growth estimates for the South Asia region India, Pakistan, Afghanistan, Bangladesh, Sri Lanka, Nepal, Bhutan and the Maldives had been revised down to 5.8% from 6.8% forecast in June.
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