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
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