In its latest update, World Bank has slashed India’s GDP growth forecast for financial year 2023 to 6.5% from 7.5% citing Ukraine-Russia war and global situation. This 6.5% becomes the lowest estimate by any agency so far. However, according to India’s Chief Economic Advisor, India is still on course for 7% GDP growth. In India local consumption shall drive growth amid oil worry.
Source Taxguru
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