ADB upgrades India's GDP growth forecast to 7% for FY25
India's GDP growth is forecast to slow to 7% in FY25 but improve to 7.2% in FY26.
India's GDP growth is forecast to slow to 7% in FY25 but improve to 7.2% in FY26.
Women borrowers will receive 40% of the funds, with the remaining will go to farmers, MSMEs, and loans for the purchase of new two-wheeled vehicles
Asakawa assured support to initiatives such as PM Gati Shakti, GIFT City and Green Hydrogen Hub, and future cities of India amongst others through ADB's Country Partnership Strategy 2023-27 for India
In India, ADB thinks, investment growth will remain "robust", underpinned by "strong" bank credit growth & demand for housing, and supported by RBI’s policy
Sitharaman raised the issue during a bilateral meeting with ADB President Masatsugu Asatkawa.
The RBI Governor says the global trade outlook for 2023 remains "overcast", but greater intra-regional trade can enhance growth and job opportunities in the region.
The Asian Development Bank cites the credit crunch and a rise in risk aversion in financial markets caused by the IL&FS crisis for the revision.