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COLOMBO (News 1st) - The Asian Development Bank’s (ADB) annual flagship economic publication, the Asian Development Outlook (ADO) April 202 - Get the latest breaking news and top stories from Sri Lanka, the latest political news, sports news, weather updates, exam results, business news, entertainment news, world news and much more from News 1st, Sri Lanka's leading news network.
Asian Development Bank raised India's GDP growth forecast to 7% for the current fiscal, driven by robust investment and improving consumption demand. Growth moderates in FY2024 and FY2025, with support from monetary and fiscal policies.
“The Government of Indias efforts to boost infrastructure development while undertaking fiscal consolidation and provide an enabling business environment will help in increased manufacturing competitiveness to augment exports and drive future growth,” said Mio Oka, ADB India director, noting India will retain its tag as fastest growing major economy. Indian economy likely grew 7.6% in FY24, according to government data.
The Asian Development Bank (ADB) stated that growth is supported by strong domestic demand, improved semiconductor exports, and recovery of tourism.
MANILA -- The Asian Development Bank projected that growth in developing Asia will slow this year, despite improved domestic demand, owing t