The World Bank has predicted that India’s economy will grow by 6.7% in the next fiscal year, which starts in April. This is slightly higher than the growth expected in the current fiscal year. According to the World Bank’s Global Economic Prospects report released on Thursday, the growth rate for India’s economy this year is expected to be 6.5%, a decrease from the 8.2% growth rate of the previous year.
The World Bank also pointed out that the services sector in India is likely to continue growing strongly. Manufacturing activity is expected to pick up too, thanks to government measures aimed at improving the business environment. These factors are expected to help India maintain its position as the fastest-growing major economy in the world, with a projected growth of 6.7% in the next two years.
For comparison, the World Bank has forecasted a slower growth rate for China. China’s economy is expected to grow by 4.5% in the current year, and even slower at 4% in the next year. The United States, the world’s largest economy, grew by 2.8% last year. However, its growth rate is expected to slow down to 2.3% this year and 2% next year.
Despite the growth projections for India, the World Bank also warned about possible risks to the world economy. It mentioned that changes in trade policies, such as higher tariffs or trade tensions between major countries, could affect global economic stability. The report did not directly mention the incoming US President, Donald Trump, but his past threats to change global trade were hinted at as a potential risk.
India’s growth forecast from the World Bank is similar to the one released by the United Nations last week. The UN projected India’s economy would grow by 6.6% this year and 6.8% in the next year.
The World Bank explained that the slowdown in India’s growth from 8.2% in 2023-24 to 6.5% in the current fiscal year was due to a slowdown in investment and weaker growth in manufacturing. However, with continued growth in services and government support for businesses, the future growth outlook remains strong.
#trending #latest #IndiaEconomy #WorldBank #EconomicGrowth #GlobalProjections #TradeAndCommerce #ManufacturingGrowth #ServicesSector #EconomicForecast #IndiaGrowth #GlobalEconomy #BusinessEnvironment #GDPGrowth #India2024 #EconomicRisks #IndiaDevelopment #breakingnews #trendingnews #DXBIndiaNews #BreakingNewsIndia #IndiaUpdates #GlobalIndiaNews #TrendingInIndia #DXBTrending #IndiaHeadlines #TopStoriesIndia #MiddleEastMeetsIndia #ViralIndiaNews #SouthAsiaNews #AllIndianews #breakingsportsnews #breakingPoliticalnews #breakingFinancenews #breakingregionalnews #Entertainmentnews #Educationnews #technologynews #DXBIndia
Simple yoga poses to help reduce PCOD symptoms and balance hormones... Read More.
RPSC has released the RAS Preliminary Exam 2024 admit cards today, January 30, 2025.... Read More.
RPSC has released the RAS Preliminary Exam 2024 admit cards today, January 30, 2025.
UK report flags Hindu nationalist and Khalistani extremism as emerging security threats
Virat Kohli prepares for his first Ranji Trophy match since 2012 at the Delhi stadium
India's G Trisha makes history as the first to score a century in U19 T20 World Cup
Joint operation in Lungkhongjang ridge seizes weapons, ammo, and war-like stores
Manage PCOD symptoms effectively with simple yoga poses for balance
Simple yoga poses to help reduce PCOD symptoms and balance hormones
RPSC RAS Prelims 2024 Admit Card Released: Steps to Download
RPSC has released the RAS Preliminary Exam 2024 admit cards today, January 30, 2025.
Mahatma Gandhi Death Anniversary 2025: Remembering the Father of India
On Mahatma Gandhi Death Anniversary 2025, India honors his legacy of peace and freedom.
Khushi Kapoor's Valentine’s Look: Traditional Twist in Custom Torani Outfit
Khushi Kapoor stuns in a midi skirt and crop top, leaving us in awe with her chic look
Delhi Traffic Advisory for Beating Retreat: Avoid These Routes Today
Delhi traffic advisory: Avoid Vijay Chowk & New Delhi area from 2 PM to 9:30 PM today
Sonu Nigam expresses disappointment over Padma Awards 2025 snub
Sonu Nigam questions the jury for overlooking iconic singers like Rafi, Kishore, and others
48th Kolkata Book Fair begins with a record number of stalls
Germany is the theme country at the 48th Kolkata Book Fair with 1,057 stalls and cultural highlights
ITC Hotels drops in India trading debut, valued at $4.2 billion
ITC Hotels shares fell in debut trade, valued at 366.2 billion rupees $4.23 billion
University of Surrey to Open Campus in Gujarat's Gift City, UK
The project awaits approval from IFSCA under the International Branch Campus Regulations
TCS Techie Murder Verdict: Woman's Father Says 'I Leave It To God
Esther Anuhya, returning from holiday, was found dead near Kanjur Marg on Jan 16, 2014
3001E, 30 Floor, Aspin Commercial Tower, Sheikh Zayed Road, Dubai, UAE
+971 52 602 2429
info@dxbnewsnetwork.com
© DNN. All Rights Reserved.