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ADB cuts India growth forecast for FY25 to 6.5%
Business Standard
|December 12, 2024
Also revises downwards outlook for the next financial year to 7%
The Asian Development Bank (ADB) on Wednesday lowered its India growth forecast for the current financial year (FY25) to 6.5 per cent from 7 per cent earlier.
"India's growth in Q2 slowed more than expected due to weak industrial output as tighter prudential norms by the central bank curtailed growth in unsecured personal loans, along with muted public capital spending and elevated food prices," the latest Asian Development Outlook noted.
The multilateral funding agency also revised downwards its forecast for FY26 to 7 per cent from 7.2 per cent earlier.
The economy hit a seven-quarter low of 5.4 per cent in Q2FY25 from 6.7 per cent in the preceding quarter.
यह कहानी Business Standard के December 12, 2024 संस्करण से ली गई है।
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