What is the growth forecast of India for the current fiscal, as per the Asian Development Bank (ADB)?
Question
What is the growth forecast of India for the current fiscal, as per the Asian Development Bank (ADB)?
The Asian Development Bank (ADB) retained India’s economic growth forecast at 6.4 per cent for FY24.
The forecast is based on recovery in consumption demand in both rural and urban areas. The Indian economy grew 7.2 per cent in 2022-23. In an update to its Asian Development Outlook (ADO), ADB lowered its inflation projection for current fiscal year (FY24) at 4.9 per cent.
Hence, option 'B' is correct.
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