The World Bank has slashed its growth forecast for India for the current financial year to 7.5 percent, a hefty 1.2 percentage points down from its previous forecast of 8.7 percent.
Writing in its latest Global Economic Prospects report released, the World Bank said it cut India’s GDP growth forecast due to headwinds from rising inflation, supply chain disruptions, and geopolitical tensions.
Static/Current Takeaways Important For All Exam 2022:
World Bank Headquarters: Washington, D.C., United States;
World Bank Formation: July 1944;
World Bank President: David Malpass.