Current Affairs - Economy - Discussion

The World Bank has estimated India's economic growth rate in FY22/23 to be 7.2%. This is a significant achievement, given the global challenges faced by the country during the year. The growth was primarily driven by strong domestic demand and a revival in the services sector. The World Bank has also projected India's economic growth rate to moderate to 6.3% in FY23/24. This is due to several factors, including the ongoing global economic uncertainty, the impact of the monsoon on agricultural output, and the rising cost of living.