The World Bank on Thursday slashed its growth forecast for India to 6.5 per cent year-on-year for 2022-23, from an earlier estimate of 7.5 per cent, while warning that spillovers from the Russia-Ukraine war and global monetary tightening will weigh on the economic outlook.
"Private investment growth is likely to be dampened by heightened uncertainty and higher financing costs," the World Bank said in its twice-a-year report on South Asia, noting that slowing global demand will impact the country's exports.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.