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ADB lowers India's economic growth forecast to 6.5 pc for current fiscal
The Statesman
|December 12, 2024
The Asian Development Bank (ADB) on Wednesday lowered India's economic growth forecast to 6.5% for the current financial year due to lower-than-expected growth in private investment and housing demand.
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Earlier it estimated the growth of 7%.
The multilateral development bank has also lowered India's growth forecast for 2025-26 financial year. "India's outlook is adjusted downward from 7% to 6.5% for this year, and from 7.2% to 7% next year, due to lower-than-expected growth in private investment and housing demand," ADB said.
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