127 This adjustment to its FY23 GDP prediction comes two months after the Bank slashed India’s FY23 GDP forecast to 6.5% from 7.5% in an October update, following a series of growth downgrades by rating agencies, investment banks, and other multilateral organizations.“India’s economy has been remarkably resilient to the deteriorating external environment, and strong macroeconomic fundamentals have placed it in good stead compared to other emerging market economies,” Auguste Tano Kouame, World Bank’s country director in India, said in the agency’s latest India Development Update, “considering a strong out-turn in India in the second quarter (July-September) of the 2022-23 financial year”. According to the research, the economy will grow at a slightly lower rate of 6.6 percent in fiscal FY24, down from the previously expected 7 percent. You Might Be Interested In Singapore’s Q4 Economic Growth Slower Than Initial Estimates Qatar General Insurance and Reinsurance Company Reports Substantial Increase in Losses Sea Summit is All Set to Become the Biggest Crypto Event in History, Led by India’s most popular crypto leaders Oil prices rose by 1.5% following the commitment of Saudi Arabia and Russia to maintain supply cuts Namibia Expedites Orange Basin Discovery Development Towards First Oil Genworth Reveals 2023 Cost of Care Survey Findings: Two Decades of Monitoring Long-Term Care Expenses
