World Bank projected India’s economic growth to be 6.6% for FY25

Apr 4, 2024 #Bank_PO, #BPSC, #Current_Affairs, #DSSSB, #Railway, #SSC, #UPSC, #WBPSC

World Bank projected India’s economic growth to be 6.6% for FY25.
World Bank increased India’s economic growth projection by 20 basis points to 6.6 per cent for FY25.
The growth projection has been increased due to upward revisions to investment growth.
As per the World Bank, India’s FY24 growth rate will be 7.5%, which is lower than the National Statistical Office estimate of 7.6%.
The World Bank’s earlier estimate for India’s FY24 growth was 6.3%.
Reserve Bank of India’s (RBI) real GDP growth rate projection for FY24 is 7.3%.
The report highlighted that India’s growth pickup due to the public sector whereas private investment continues to remain weak.
As per the latest South Asia Development Update, South Asia is expected to remain the fastest-growing region in the world for the next two years.
Pakistan’s economy is expected to grow by 2.3% in FY25 while Bangladesh will grow by 5.7% in FY25.
In Sri Lanka, output growth is expected to strengthen to 2.5% in 2025,
The fiscal deficit and government debt are projected to decline over the medium term.