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The World Bank has trimmed its growth forecast for India for the current financial year to 7.5%, marking a 1.2 percentage points cut down from its previous forecast of 8.7%. World Bank said it cut India's GDP growth forecast due to rising inflation, supply chain disruptions, and geopolitical tensions. The bank now sees India's growth slowing further to 7.1% in FY24. This is 30 basis points higher than the previous forecast of 6.8%. For FY25, GDP growth has been kept at 6.5%.
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