Date: 16/04/2024

GDP seen growing at 7 pc in FY25: ADB

India’s FY25 GDP growth projection has been revised upwards to 7 per cent; robust private and public sector investment and consumer demand is driving this upward revision, according to the Asian Development Bank’s (ADB) April edition of the Outlook. ADB’s estimates are in line with RBI’s projections. ADB has revised India’s GDP growth forecast for the current fiscal to 7% from 6.7% earlier. It highlighted that inflation may continue its downward movement in line with global trends. According to ADB, exports are expected to be muted this fiscal because growth in major advanced economies will decline. India requires greater amalgamation into the global supply chains in order to boost exports in the medium term, it added, as per a report.
Source: Exim News Service: Manila, April 15