World Bank trust increased on India, increased GDP estimate for FY 2023

The World Bank has expressed confidence that the government will achieve the fiscal deficit target of 6.4 per cent in the current financial year. The World Bank estimates that inflation will remain at 7.1 per cent in the current financial year.

World Bank’s trust on India’s strategy

India GDP Estimate: The World Bank has increased India’s GDP growth forecast for the current financial year 2022-23 from 6.5 percent to 6.9 percent. The World Bank has said in the update related to India released on Tuesday that the impact of the developments in America, Euro area and China is also being seen on India.

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However, the World Bank has expressed confidence that the government will achieve the fiscal deficit target of 6.4 per cent in the current financial year. The World Bank estimates that inflation will remain at 7.1 per cent in the current financial year.