New Delhi | The World Bank has reduced India’s growth by 0.3% in the financial year 2023-24 and projected the GDP to be 6.3%. Earlier the World Bank had estimated it to be 6.6%. The reduction in consumption has been cited as the reason for this. The World Bank has said in the report released on Tuesday that the retail inflation rate may remain at 5.2%. The World Bank in its India Development Update said that growth is likely to be constrained by slower consumption growth and challenging external conditions. In the Economic Survey before the budget, it was said that due to the economic and political conditions at the global level, the GDP growth rate can remain between 6.0% to 6.8%.