ADB lowers India growth estimate to 6.5% for FY25
Financial Express Hyderabad|December 12, 2024
The Asian Development Bank (ADB) on Wednesday lowered India's growth estimate to 6.5% from 7%, due to a deceleration of growth in the second quarter.
FE BUREAU

It also lowered the estimate for the next financial year to 7% from 7.2% due to lower-than-expected growth in private investment and housing demand.

India's gross domestic product (GDP) rose by 5.4% year-on-year in the July-September quarter, the lowest in seven quarters. The H1FY25 growth has come in at 6%.

The lowering of the forecast for this financial year reflected a deceleration of growth in the second quarter of FY24 to 5.4% from 8.2% in the same period last fiscal, ADB said in a report.

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