World Bank cuts India's economic growth forecast

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World Bank cuts India's economic growth forecast

STORY: World Bank cuts India's economic growth forecast DATELINE: June 8, 2022 LENGTH: 00:01:33 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of the Indian Gate 2. various of food product wholesale market 3. various of supermarket 4. various of food products 5. various of fuel station 6. various of the traffic STORYLINE: The World Bank Tuesday cut India's economic growth forecast for the current fiscal year to 7.5 percent as rising inflation, supply chain disruptions and geopolitical tensions taper recovery. The World Bank said in its latest issue of the Global Economic Prospects that "in India, growth is forecast to edge down to 7.5 percent in the fiscal year 2022/23, with headwinds from rising inflation, supply chain disruptions, and geopolitical tensions offsetting buoyancy in the recovery of services consumption from the pandemic." "Growth is expected to slow further to 7.1 percent in 2023-24 back towards its longer-run potential," it said. This is the second time that the World Bank ha

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