- 'India will achieve fastest growth despite difficulties'

- China may say its growth rate will be 4.1%, but in reality it will be 2.9% : India's growth rate will decrease from 6.6% to 6.3%

- 'The world is headed for an economic recession' : World Bank

Washington: Veteran Indian-origin economist Ajay Banga took over the presidency of the World Bank last week (Friday) to begin his five-year tenure. Before assuming his post, on Tuesday, he predicted a decrease in the global growth Rate and said, 'In 2023, the global growth rate will decrease to 2.1%, which was 3.1% in 2022. Along with this, they also warned of a global recession.' According to the World Bank, India's growth rate will fall by 0.3% during the current financial year 2023-24, i.e. it will decrease from 6.6% to 6.3%. While saying that, he further said that even though China says that its growth rate will be 4.1% in 2023, but actually from the available data, it can be said that China's growth rate will decrease to 2.9%.

Personal consumption and investment are growing in India, World Bank President Ajay Banga said on Tuesday. Its services are also growing. However, due to mudrasfiti (inflation) and debt, personal savings are declining slightly. Hence, economic growth is likely to accelerate with inflation hovering around the mid-point (4-5 per cent) in 2025-26.

India ranks first among Emerging Main Developing Economies (EMDE). Indian economy will be the fastest growing economy in the world ('25-'26) both in terms of that and per capita GDP.

World Bank President Ajay Banga has once again indicated the possibility of a global recession and said that the global growth rate which was 3.1 percent in 2022 will decrease to 2.1 percent in 2023. India's growth rate will decrease from 6.6% in 2022 to 6.3% in 2023, while China's growth rate will not be 4.1%, it is estimated to decrease to 2.9%.