World Bank cuts India's growth forecast to 8%
The World Bank in its report released on 13 April 2022 has reduced its growth forecast for India, the largest economy in the South Asian region, from 8.7% to 8% for the current fiscal year 2022-23.
The World Bank has cut the growth forecast for South Asia by a full 1% excluding Afghanistan. It has now gone up to 6.6%.
In its report focused on the economy of South Asia, it has said that India's projected growth rate will be 8.3% in 2021-22, which will come down to 8% in 2022-23 and to 7.1% in 2023-24.
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