Asian Development Bank retains India's GDP growth forecast at 7% for the current fiscal year.
The Asian Development Bank (ADB) retains India's GDP growth forecast at 7% for the current fiscal year, citing a rebound in agriculture due to above-normal monsoon projections. The ADB's forecast aligns with the International Monetary Fund's (IMF) projection of 7% growth for India, but is lower than the Reserve Bank of India's (RBI) estimate of 7.2%. The Indian economy is projected to grow at 7% in FY2024 (ending March 2025) and 7.2% in FY2025 (next financial year), according to the ADB's July edition of the Asian Development Outlook report.
July 17, 2024
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