The World Bank has revised India's economic growth forecast for the fiscal year 2026-27 downwards.
The new projection stands at 6.6%, a reduction from the earlier potential estimate of 7.2%.
This downward revision is primarily attributed to the ongoing geopolitical conflict in West Asia.
An international financial institution that provides financial and technical assistance to developing countries around the world. Its mission is to reduce poverty and support development.
This is a flagship semi-annual report published by the World Bank, providing comprehensive analysis and forecasts for the global economy and developing countries.
Geopolitical tensions, like the West Asia conflict, can disrupt global trade routes, increase commodity prices (especially oil), and impact investor confidence, thereby affecting economic growth worldwide.
Growth forecasts are key macroeconomic indicators that reflect the health and future trajectory of an economy, influencing investment decisions, government budgeting, and policy formulation.
GS Paper III - Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment. International Institutions.
General Awareness - Indian Economy, International Organizations.
General Awareness - Economic & Financial News, International Organizations.
General Awareness - Indian Economy, Current Affairs.
Which one of the following issues the 'Global Economic Prospects' report periodically?
Answer: The World Bank
The main objective of the 12th Five-Year Plan is
Answer: faster, sustainable and more inclusive growth
Which of the following are associated with 'Planning' in India? 1. The Finance Commission 2. The National Development Council 3. The Union Ministry of Rural Development 4. The Union Ministry of Urban Development 5. The Parliament Select the correct answer using the code given below.
Answer: 2 and 5 only
Medium to High for economic forecasts and international organizations' roles.
A projection or forecast of the future rate of economic expansion for a country or region.
Refers to ongoing geopolitical tensions and conflicts in the Middle East region, impacting global trade, energy prices, and supply chains.