ADB lowers India’s GDP growth forecast to 5.1% in FY20

The Asian Development Bank (ADB) has lowered its forecast for India’s economic growth in fiscal year 2019-20 to 5.1%. ADB has stated that the consumption was affected by slow job growth and rural distress was aggravated by poor harvest.

Static/Current Takeaways Important For LIC Assistant Mains:

  • Asian Development Bank Headquarters: Manila, Philippines; President: Takehiko Nakao.

Source: The Live Mint

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