India's Growth to Remain Resilient Despite Global Challenges
October 3, 2023--India continues to show resilience against the backdrop of a challenging global environment, according to World Bank's latest India Development Update (IDU).
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India's growth rate was the second highest among G20 countries and almost twice the average for emerging market economies. This resilience was underpinned by robust domestic demand, strong public infrastructure investment and a strengthening financial sector. Bank credit growth increased to 15.8% in the first quarter of FY23/24 compared with 13.3% in the first quarter of FY22/23. |