New Delhi: The World Bank has decided to retain its GDP growth projection for India in the financial year 2023-24 at 6.3%. The India Development Update (IDU) released by the World bank revealed this. IDU is a semi-annual report on the Indian economy.
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Earlier in April, the World Bank had revised India’s growth forecast for 2023-24 from 6.6% to 6.3%. During this fiscal year, bank credit in India witnessed a growth of 15.8% in the first quarter. It was at 13.3% in the corresponding period of the previous fiscal year. The service sector in India is projected to maintain its strength with a growth rate of 7.4%, while investment growth is expected to remain robust at 8.9%.
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