World Bank Raises India GDP Forecast To 6.6 Percent For 2024 From 6.4 Percent Earlier In Global Outlook Report

India's GDP Growth: The Indian economy will grow at the rate of 6.6 percent in the year 2024. The World Bank has increased India's GDP forecast for 2024 and said that India will grow at the rate of 6.6 percent in the current year, whereas in the January 2024 estimate, the World Bank had estimated a GDP growth rate of 6.4 percent. The World Bank has estimated a GDP growth rate of 6.7 percent in 2025 and 6.8 percent in 2026. The World Bank has also increased China's growth forecast from the earlier 4.5 percent to 4.8 percent.

The World Bank has released its outlook on the growth rate of countries around the world. The World Bank said that in the financial year 2023-24, India's growth rate has jumped to 8.2 percent GDP, which is 1.9 percent more than its estimate of January. Due to the boom in industry activity, better than expected performance of manufacturing and construction sectors and dynamism in services activity, the growth rate has been excellent despite the decrease in production in the agricultural sector due to the impact of monsoon.

The World Bank said, despite the slowdown in the sharp rise in consumption after the Corona epidemic, domestic demand remains strong due to the surge in investment, as well as increased investment in the infrastructure sector. The World Bank said, since September 2023, inflation in India has remained within the RBI's target range of 2 to 6 percent.

The World Bank said in its outlook that India's economy will grow at the fastest pace among the world's major economies, although its pace will be slightly slower than before. According to the report, after rapid economic growth in the financial year 2023-24, India will grow at an average rate of 6.7 percent from the financial year 2024-25. According to the report, this slowdown will come due to a decrease in investment from a high base. However, despite this, investment growth will remain rapid during this period due to strong public investment as well as private investment. Private consumption will also increase due to recovery in agricultural production and reduction in inflation.

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