ADB cuts India growth forecast for this fiscal to 5.6%

The Asian Development Bank (ADB) has lowered India’s growth forecast for the current fiscal to 5.6 per cent, from 7 per cent projected earlier, citing falling global demand and impact of delayed monsoon on agricultural production.

For the Asian region as a whole, the ADB Update expects the Gross Domestic Product (GDP) growth rate to drop to 6.1 per cent in 2012 from 7.2 per cent in 2011. Growth rate for the region has been projected at 6.7 per cent in 2013.

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ADB Asian Development Bank

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