Guest
Welcome, Guest

Login/Register

Bookmark Bookmark

Asian Development Bank cuts India's GDP growth forecast to 7%

Asian Development Bank lowered India's GDP growth forecast to 7 percent for the current year on the back of fiscal shortfall concerns.


"India is expected to grow by 7 percent in 2019 (FY20) and 7.2 percent in 2020 (FY21), slightly slower than projected in April because the fiscal 2018 outturn fell short," ADB said in its supplement to the Asian Development Outlook 2019.


For the south Asian region, ADB said the outlook remains robust, with growth projected at 6.6 percent in 2019 and 6.7 percent in 2020.


Earlier in April this year too, the Manila-based multi-lateral funding agency had lowered India's growth forecast for FY20 to 7.2 percent from 7.6 per cent estimated previously due to moderation in global demand and likely shortfall in revenue on the domestic front.


About ADB


Headquarters: Manila, Philippines


President: Takehiko Nakao

You might be interested:

Larsen & Toubro Infotech to acquire Bengaluru-based Lymbyc

Larsen & Toubro Infotech (LTI) will acquire Bengaluru-based advanced analytics company Lymbyc for an enterprise value of Rs 38 crore. The acquisition will bolster the advanced analytics, natural l ...

a month ago

Veteran Bengali actor Swarup Dutta passes away

Veteran Bengali actor Swarup Dutta, best known for his versatile roles in films of the 1960s and 1970s, died. He was 78. The actor had got his first break in Tapan Sinha's 'Apanjan' (1968). The film w ...

a month ago

Israel inks USD 50 mn deal with India to supply complementary Naval MRSAM systems

State-owned Israel Aerospace Industries (IAI) said it has inked a follow-up deal worth USD 50 million to supply complementary Naval MRSAM (medium range surface-to-air missile) systems to the Indian Na ...

a month ago

Shooter Anish Bhanwala wins gold in junior World Cup

Anish Bhanwala claimed the gold medal in 25m rapid fire pistol competition to continue India's dominance in the ISSF Junior World Cup in Suhl, Germany. Bhanwala topped the qualification with 584 and s ...

a month ago

East Bengal to confer Kapil Dev with highest honour, host ceremonial farewell for Bhaichung Bhutia

India's first World Cup-winning cricket Captain Kapil Dev will be conferred East Bengal's highest honour, Bharat Gaurav, during its Foundation Day on August 1. The red-and-gold also plans to host a ce ...

a month ago

Incredible India Campaign Wins Pata Gold Award 2019

The Incredible India "Find the Incredible You" campaign released globally by the Ministry of Tourism during 2018-19 has been declared winner of the PATA (Pacific Asia Travel Association) Gold Award 20 ...

a month ago

Provide your feedback on this article: