06 May 2018

India's 7% projected growth rate for the current fiscal: ADB

India's 7% projected growth rate for the current fiscal: ADB



Asian Development Bank Chief Economist Yasuyuki Sawada has stated India's projected GDP growth of over 7 percent for the current fiscal (2018-19) is amazingly fast and if this momentum is maintained the size of the economy can double within a decade. 

According to ADB, India should not worry about not achieving 8 percent growth but focus on increasing domestic demand by reducing the income inequality.  

Static/Current Takeaways Important for Dena Bank PO Exam 2018- 
  • The Asian Development Bank is a regional development Bank established in 1966.
  • Headquarters of ADB is in Manila, Philippines.
  • Takehiko Nakao is Present President of the Asian Development Bank.

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