The World Bank cuts India’s GDP growth projection to 6.3 percent in its latest India update released on Tuesday, a 0.3 percentage point reduction from its previous projection in December 2020 citing rising borrowing costs and slower income growth are expected to weigh on private consumption growth. It is further stated that government consumption is projected to grow slower due to the withdrawal of pandemic-related fiscal support measures. The report projects that the government is likely to meet its fiscal deficit target of 5.9 percent of GDP in this fiscal and combined with the consolidation in state government deficits, the general government deficit is also projected to decline along with the narrowing of the Current Account Deficit. The CAD (Current Account Deficit) is projecte...