Asian Development Bank (ADB) has downgraded India’s growth projection to 7 percent for the current fiscal while lowering its forecast for the next financial year as well.
India’s GDP growth is downgraded to 7 percent in the financial year 2017-18, a 0.4 percentage point drop from the April forecast. In the financial year 2018-19, the forecast is adjusted down to 7.4 percent, from 7.6 percent, according to the Asian Development Outlook 2017 update.
Important Takeaways from Above News-
- ADB headquarters in Manila, Philippines.
- Takehiko Nakao is the President of ADB.
Source- The Hindu