ADB Lowers India’s GDP forecast for FY18 to 6.7%

The Asian Development Bank (ADB) lowered India’s GDP forecast for the current fiscal by 0.3% to 6.7 %.

It has also revised downward the gross domestic product (GDP) outlook for next fiscal beginning from March 2018 to 7.3% from 7.4% mainly due to rising global crude oil prices and soft growth in private sector investment.

Static/Current Takeaways Important for RBI Assistant Mains 2017 Exam-
  • Founded on 19 December 1966 ADB has its Headquarter in Manila, Philippines.
  • President of ADB is Takehiko Nakao.
  •  India is the largest economy in South Asia.
Source- The Hindu