Indian economy to grow at a robust 6.6% in FY24, says World Bank

'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession

The World Bank on Tuesday projected the Indian economy to grow at a robust 6.6 per cent in 2023-24 (FY24), slowing down from an estimated 6.9 per cent in 2022-23 (FY23), citing “limited spillovers” to Asia’s third-largest economy from a projected global slowdown.
 

In its Global Economic Prospects, the Bank said global growth may decelerate sharply in 2023 to its third weakest pace in nearly three decades, cautioning that the world economy is “perilously close” to falling into recession.

“Further negative shocks — such as higher inflation, even tighter policy, financial stress, deeper weakness in major economies, or rising geopolitical