The World Bank projected a growth rate of 6.5 per cent for the Indian economy for the fiscal year 2022-23, a drop of one per cent from its previous June 2022 projections, citing the deteriorating international environment.
There were allegations that International Monetary Fund's (IMF) chief Kristalina Georgieva manipulated a World Bank report to favour China while she was its CEO.
India's GDP ~ which shrank by 7.3 per cent under the onslaught of the pandemic last fiscal year ~ is expected to record the 8.3 per cent growth this fiscal year, making it the second-fastest-growing major economy.
Intraregional trade accounts for 50% of the total trade in East Asia and the Pacific, and 22% in Sub-Saharan Africa. In South Asia, it forms only 5 per cent of the total trade, says the latest World Bank report
