World Bank keeps India's GDP growth unchanged at 6.3%

The World Bank has opted to retain the economic growth forecast for India at 6.3% in the fiscal year (FY) 2023-24, despite the nation grappling with significant external challenges, Economic Times reported. In its recent India Development Update, the institution applauded the country's economic resilience, backed by robust domestic demand and significant infrastructure investments. The report also disclosed that India's bank credit growth surged to 15.8% in the first quarter of FY23-24 from 13.3% during the same time in FY22-23.