New Delhi/Washington, Apr 4 (PTI) The World Bank and the Asian Development Bank on Tuesday projected moderation in the Indian economic growth between 6.3 per cent and 6.4 per cent due to a slowdown in consumption and challenging external conditions.
The World Bank in its latest 'India Development Update' (IDU) slashed the GDP forecast to 6.3 per cent against the earlier estimate of 6.6 per cent in 2023-24 (FY24).
"In India, South Asia’s largest economy, high borrowing costs and slower income growth are expected to dampen consumption and lower growth to 6.3 per cent in FY 2023/24,” the World Bank said in a report for South Asia released on Tuesday ahead of the annual spring meeting of the International Monetary Fund and the World Bank.
