The $255.5 million loan from the International Bank for Reconstruction and Development (IBRD) has a final maturity of 14 years including a grace period of five years. Representational image: iStock
World Bank upgrades India's GDP growth forecast to 6.9% for FY23
The World Bank on Tuesday (December 6) revised its GDP growth forecast for India to 6.9 per cent for 2022-23, up from 6.5 per cent earlier.
World Bank’s India Development Update said India is affected by spillovers from the US, Euro area and China.
Also Read: World Bank lowers India’s growth projection to 6.5% in FY 2022-23
It, however, saw the government meeting the fiscal deficit target of 6.4 per cent of the GDP in 2022-23.
World Bank expects the inflation at 7.1 per cent in 2022-23.
(With inputs from agencies)
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