10th JANUARY 2024 ENGLISH TNPSC CURRENT AFFAIRS PDF TNPSC SHOUTERS
India's GDP growth rate to continue at 6.3 percent - World Bank forecast
- The World Bank released its Global Economic Prospects report on Tuesday. According to its forecast, India is set to retain the fastest growth rate in the world.
- India's GDP growth forecast has remained unchanged since June last year. GDP growth is expected to pick up gradually. The report also said it could be up to 6.5%.
- Investment has declined somewhat. But growth in investments will be strong in future. It said this growth would be supported by higher public investment and support from the banking sector.
- A fall in per capita consumption will slow growth. Persistent food price inflation is likely to restrain spending. The impact is particularly felt among low-income families. Meanwhile, government consumption is expected to grow slowly, in line with the central government's efforts.
- The report warned that uncertainty over upcoming parliamentary elections in several South Asian countries, including India, could dampen growth in the private sector, including foreign investment.
- The World Bank said growth is likely to lag 2.4 percent this year due to tighter global monetary policy, restraint in financial conditions and weak global trade and investment.
- Prime Minister Modi inaugurated the vibrant Gujarat Business Conference at the Mahatma Mandir in Gandhi Nagar, Gujarat. The 10th trade conference titled Vibrant Gujarat is being held in Gandhi Nagar for 3 days starting today.
- It is expected that 100 countries will participate and 33 countries will join as partners. 34 alliance countries and 16 organizations are participating in this year's summit.
- Earlier, Prime Minister Modi met with world leaders including UAE President Mohammed bin Syed Al Nayan, Czech Republic Prime Minister, Timor Leste President and Mozambique President and took photographs.
- In this conference, prominent industrialists such as Mukesh Ambani, Gautam Adani, Tata CEO, Microsoft representatives have participated.
