ADB cuts India's growth forecast to 6.5% due to lower investment and housing demand.

The Asian Development Bank (ADB) has reduced India's economic growth forecast for the current financial year to 6.5%, down from 7%, due to weaker private investment and housing demand. Despite the downgrade, the ADB notes that India's growth remains resilient, supported by higher agricultural output and a strong services sector. The ADB also projects a 4.9% growth rate for Asia and the Pacific economies in 2024.

December 11, 2024
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