
World Bank cuts India's FY24 GDP growth forecast to 6.3%
Rising borrowing costs and slower income growth will weigh on private consumption growth, says World Bank.
Rising borrowing costs and slower income growth will weigh on private consumption growth, says World Bank.
In its latest economic outlook report, the ratings agency says the weak monsoon poses downside risk of up to 50 basis points (50 bps).
As per the study, as many as 91% of workers in India who have advanced digital skills have higher job satisfaction than those who have basic digital skills.
The current estimate is 0.4 percentage points higher than the previous forecast done by the World Bank in October.
Earlier the rating agency had projected the country’s economic growth to be at 7.3% for the current fiscal year.
The latest report outlines the potential for drone-based transformation of Indian agriculture and provides a framework for the development of scalable pilots.
Fitch Ratings expects the RBI to continue raising repo rate to 5.9% before year-end.
Bibek Debroy believes Budget 2023 is extremely important to articulate the central government's medium-term plan to push economic growth amid global uncertainties.
India’s GDP growth lost momentum in Q4 of FY22, primarily due to geopolitical tensions, including the Russia-Ukraine war, higher commodity prices and Omicron-induced curbs.