India’s economy grew by 7.2% in the last fiscal year (2022-23) despite global challenges, says government data. The World Bank has projected a 6.3% growth for the ongoing fiscal year (2023-24), citing tough global conditions like high interest rates and geopolitical tensions. The World Bank’s report emphasizes India’s resilience amid these challenges. The slowdown is due to difficult external factors and pent-up demand. Auguste Tano Kouame, the World Bank’s India Director, highlighted the need for increased public spending to attract private investments for better future opportunities and higher growth.
