In a statement released on a fine Wednesday, the World Bank declared that this substantial funding would play a pivotal role in empowering the state to fortify its renewable energy

The growth projection is in comparison to the 7.2% GDP growth in FY23. The economy had expanded by 9.1% in the preceding fiscal year (FY22). On June 22, Fitch Ratings increased its prediction for India’s economic growth to 6.3% for the current fiscal year 2023–2024 from its earlier projection of 6%.

The upcoming summit in Paris, where Premier Li Qiang of China and global leaders will convene, endeavors to tackle the predicament of debt burdens faced by economically disadvantaged nations and explore avenues for climate financing.

Goldman Sachs Group Inc. has reduced its projections for China’s economic growth, citing the Asian country’s limited alternatives for increasing stimulus. Bloomberg stated that the bank cut its forecast for China’s GDP growth this year to 5.4% from 6% earlier.