World Bank Projects Indian Economy to grow at 6.3% in FY24

World Bank Projects Indian Economy to grow at 6.3% in FY24

• The World Bank has projected India’s GDP (Gross Domestic Product (GDP) growth at 6.3 percent for FY2023-24, in its latest India Development Update (IDU).
• The IDU is World Bank’s flagship half yearly report on the Indian economy.
• The report states that despite significant global challenges, India was one of the fastest-growing major economies in FY22/23 at 7.2%.
• India’s growth rate was the second highest among G20 countries and almost twice the average for emerging market economies.

Points to Remember:

1. India’s GDP in FY24 as per World Bank?
2. The India Development Update (IDU) report is released by which organisation?