World Bank upgrades India's GDP growth forecast to 6.9% for FY23

World Bank on Tuesday revised upwards its GDP growth forecast for India to 6.9 per cent for 2022-23 from 6.5 per cent earlier.

World Bank's India Development Update said India is affected by spillovers from the US, Euro area and China.

It however saw the government meeting the fiscal deficit target of 6.4 per cent of the GDP in 2022-23.

World Bank expects the inflation at 7.1 per cent in current fiscal year.