Asian Development Bank has revised India’s GDP growth forecast for the current fiscal to 7 per cent.
In the April edition of the Asian Development Outlook, Asian Development Bank increased India’s GDP growth forecast to 7 per cent from 6.7 per cent for the current fiscal.
ADB‘s estimates are in line with RBI’s projections for India’s FY25 growth.
The new edition of the Asian Development Outlook highlighted that inflation may continue its downward movement in line with global trends.
Earlier, RBI projected that GDP growth in the current fiscal is will be 7 per cent.
The projection has been made based on sustained stimulus in services and manufacturing sectors, normal monsoons, and lessening inflationary pressures.
As per the ADB, exports will remain muted because development in major advanced economies will decline but it will get better in FY2025.
To boost exports in the medium term, India requires greater integration into global chains.
