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India’s GDP Growth at 8.3% for FY22 And 8.7% for FY23: World Bank

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The World Bank on Tuesday projected India’s GDP growth at 8.3 per cent for the ongoing financial year and at 8.7 per cent for 2022-23 fiscal in its latest Global Economic Prospects report.

Global growth will “decelerate markedly” this year as Covid-19 outbreaks and supply chain snarls persist while government aid programs expire, the World Bank said Tuesday.

The Washington-based development lender forecast growth would slow to 4.1 percent this year from an estimated 5.5 percent in 2021 but warned “Omicron-related economic disruptions could substantially reduce growth” to as low as 3.4 percent.

(with inputs from AFP)

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