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.


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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