World Bank Trims India’s Economic Growth Forecast Amid Global Uncertainty
MichelleThe World Bank has revised its economic growth forecast for India, citing increased global economic uncertainty...
The World Bank has revised its economic growth forecast for India, citing increased global economic uncertainty that is expected to impact the prospects of most South Asian nations.
On Wednesday, the World Bank reduced its growth prediction for India by 0.4 percentage points, bringing it to 6.3% for the fiscal year that commenced on April 1. This is a downward adjustment from the forecast it had made in October.
The report by the World Bank on South Asia suggested that while monetary easing and regulatory streamlining are likely to benefit private investment in India, these advantages are anticipated to be counterbalanced by global economic weakness and policy uncertainty.
In addition to India, the World Bank has also lowered its growth forecasts for most South Asian nations. The reason given for these reductions is the limited capacity of these countries to handle global challenges. The World Bank did not provide specific figures for these other countries in the region.
