World Bank: In a report released before the annual meeting of the International Monetary Fund (IMF) and the World Bank, the bank said that India is relatively strong compared to other countries in the world. India has no major foreign debt. India’s monetary policy has been prudent. The Indian economy will grow at a rate of 6.5 percent in the financial year 2022-23. The Indian economy has performed well in comparison to other South Asian countries, recording strong growth.
- The report was released ahead of the annual meeting of the International Monetary Fund (IMF) and the World Bank
- India is comparatively strong compared to other countries of the world
- India’s monetary policy has been prudent
- The second half of the calendar year will be weak for many countries and relatively weak for India as well
- The Indian economy will grow at a rate of 6.5 percent in the financial year 2022-23
The World Bank on Thursday cut India’s growth forecast, citing deteriorating international conditions. According to the latest estimates, the Indian economy will grow at the rate of 6.5 percent in the financial year 2022-23. Which is one percent less than the June 2022 estimate. In a report released ahead of the annual meeting of the International Monetary Fund (IMF) and the World Bank, the bank said that India is relatively strong compared to other countries in the world.
India’s growth rate in the last financial year was 8.7 percent
World Bank Chief Economist for South Asia Hans Timmer while talking to PTI said that the Indian economy has performed well compared to other South Asian countries with strong growth. It has made a strong comeback after a severe setback in the first phase of Covid. He said that India has no huge foreign debt. Due to this he has no problem and his fiscal policy has been prudent. The Indian economy has performed particularly well in the service sector and particularly in service exports.
Despite this, we have reduced the estimate for the current financial year, he said. Because the international environment is deteriorating for India and all other countries. He said that the second half of the calendar year will be weak for many countries and relatively weak in India as well.