World Bank Subject : Economy Context: The World Bank has retained growth forecast for India at 6.9 per cent for FY23 and 6.6 per cent for FY24. This is despite the latest Global Economic Prospects report, released on Saturday, portraying a gloomy picture for entire world economy About the Report The World Bank produces the GEP twice a year, in January and June, as part of its in-depth analysis of key global macroeconomic developments and their impact on member countries. The GEP provides […]
Subject: International Organisation Context: The World Bank expects India’s economy to contract by 9.6% in 2020-21, revising its earlier estimate in June that output will shrink by just 3.2% amidst the COVID-19 pandemic. This revision reflects ‘the impact of the national lockdown and the income shock experienced by households and firms’. Concept: The World Bank […]