According to the World Bank report released in June 2024, what is the likely growth rate of the Indian economy in 2024-25?

In its latest June 2024 report, Global Economic Prospects, the World Bank has revised the Indian Gross Domestic Product (GDP) growth rate forecast for the financial year 2024-25 to 6.6 per cent.

In an earlier report issued in January 2024, the World Bank forecasted a growth rate of 6.4 per cent.

The World Bank also said that India will remain the fastest-growing major economy in the world in 2024-25.

For 2025-26, the World Bank has raised the growth forecast to 6.7 per cent from the earlier forecast of 6.5 per cent.

According to the National Statistical Organisation (NSO) report, the Indian economy grew by 8.2 percent in 2023-24 and retained the status of the fastest-growing major economy in the world.

In 2023-24, India’s economy grew by 7.2 percent in 2022-23, and in 2021-22, the growth rate was 8.7 percent.

The Reserve Bank of India also recently raised the GDP growth rate forecast for 2024-25 to 7.2 per cent from 7 per cent earlier.