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India's GDP growth rate is likely to moderate to 6.3% in FY2024

Published on April 05, 2023
Current Context: According to a recent World Bank report 'India Development Update', India's GDP growth is predicted to slow down to 6.3% from 6.6% in FY2024.
India's GDP growth rate is likely to moderate to 6.3% in FY2024
  • The reason for decline in the GDP is due to the decrease in income levels and the challenges people face from different external conditions.
  • Asia's third-largest economy registered a growth of 4.4 per cent in October-December, up from 11.2 per cent a year ago and 6.3 per cent in the previous quarter.
  • Though there could be short-term risks after the collapse of three mid-sized banks in the US, and the acquisition of Credit Suisse by UBS, it said the Indian banks are well capitalised.
  • Spillovers from recent developments in financial markets in the US and Europe pose a risk to short-term investment flows to emerging markets, including India. But Indian banks remain well capitalised.

Questions:

Q.1 What is the expected GDP by world bank for the year FY 2024.
a. 6.3
b. 6.5
c. 6.4
d. 6.2
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