The slowdown in the global economy and rising uncertainty will weigh on export and investment growth, the World Bank stated.
Global and domestic factors will play a significant role in the performance of equities, bonds, gold, fixed deposits and real estate this year
However, it has been said that India’s economic growth will slow down to 6.6 per cent in FY24.
Kumar further said there is a synchronized downturn in the US, Europe, Japan and also in China and that could take the global economy into a recession in the coming months.
In the last budget, Finance Minister K N Balagopal announced that the state would use the information technology network to market agriculture products.
Energy prices are expected to fall by 11% in 2023 as global growth is likely to slow down, according to a World Bank report.
"There is not just the World Bank, but every bilateral that I've had people have spoken very highly of India's achievement on the digital side," she said.
They discussed the damages caused by the rain and how to prevent it, proper utilization of rain water, use of lake water, prevention of sewage water from flowing into Rajakaluves.
Some observers have warned that aggressive interest rate hikes by major economies could trigger a global recession, but policymakers say allowing high inflation to take hold would be even worse.
He said poor people in the country have more money in their hand that showed up in the recent poverty report of the World Bank.
These are dangerous signals for the man on the street in India and elsewhere.
"As an immediate response, we are repurposing funds from existing World Bank-financed projects to support urgent needs in health, food, shelter, rehabilitation, and cash transfers," the statement said
"Punjab's growth has been below potential. A combination of fiscal challenges and institutional capacity constraints means that scarce resources are spread thin across development priorities," it said
Its economists, however, assured that it’s ‘not all doom and gloom,’ and urged policymakers to shift focus from consumption to production.
Many countries will not be able to avoid a recession, but the worldwide slowdown and tightening monetary policy "could give rise to significant financial stress and trigger a global recession..."
Sri Lanka is planning to cut the budget deficit to 6.8 per cent of gross domestic product in 2023 from an expected 9.9 per cent in 2022," said Bandula Gunawardena, the Cabinet spokesman.
Sri Lanka needs about USD 5 billion in the next six months to cover basic necessities for its people, who have been struggling with long queues, worsening shortages and power cuts.
Lebanon is grappling with an unprecedented financial crisis, branded by the World Bank as one of the planet's worst since the 1850s.
Chief Secretary Suresh Chandra Mahapatra said the partnership with IFC in identifying assets can be leveraged for attracting more private sector investments in the State.
A third of Sudanese needs humanitarian aid, estimated the UN, which warns that 18 million people -- nearly half the population -- will be pushed into extreme hunger by September.