Asian Development Bank (ADB) sees India GDP growth at 6% in 2013-14.
Asian Development Bank (ADB) sees the Indian economy growing at six per cent in this financial year.
Managing Director General of ADB Mr.Rajat Nag today said at the 46th Annual Meet of the bank that the Indian economy could even return to 8-9 per cent growth levels if the country were to get its investment story right.
Painting an optimistic picture about India’s growth prospects, Nag said India’s growth story will be driven by investments.
“There is need for structural reforms on the investment side. If legislations are passed on direct taxes and GST, then India can get to 8-9 per cent growth level. That is our reading. Only time will tell,” Nag said.
ADB sees India’s inflation moderating to 7.2 per cent in 2013-14 and 6.8 per cent in 2014-15.
As regards CAD, ADB sees it coming down to 4.4 per cent of GDP in 2013-14 from a level of about five per cent last year.
ADB sees India’s CAD coming down to four per cent in 2014-15.