look news india
Mumbai: The World Bank has increased India's economic growth forecast for the current financial year by seven percent, taking into account the increase in agricultural production and private consumption. This assumption of 6.60 percent was made in April.
India has an emerging consumer class that is driving the economy.
The Reserve Bank of India has also retained India's gross domestic product (GDP) growth forecast for the current financial year at 7.20 percent. The Reserve Bank has also kept inflation expectations unchanged at 4.50 percent for the current financial year. The World Bank has increased the forecast for South Asia for 2024 from 6 percent to 6.40 percent. Estimates have been raised due to strong demand in India and rapid recovery in Sri Lanka and Pakistan.
According to a World Bank report, the economic growth rate in South Asia will be strong up to 6.20 percent in the next two years. South Asian countries will have to continue with economic reform programs to maintain economic growth rates.