World Bank stated in a latest update that the Indian economy is projected to grow at 7.5% in 2024, revising upwards its earlier projections for same period by 1.2%. India, which accounts for the bulk of the region’s economy, output growth is expected to reach 7.5% in FY23/24 before returning to 6.6% over the medium term, with activity in services and industry expected to remain robust, the World Bank noted. It also opined that the latest expansion in local economic growth was supported by rapid increases in investment and government consumption.
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First Published: Apr 03 2024 | 12:05 PM IST
