The Asian Development Bank (ADB) on Wednesday maintained India’s GDP growth forecast at 7 per cent for the current financial year, citing that a rebound in agriculture is expected given above-normal monsoon projections.
The ADB forecast comes a day after the International Monetary Fund revised upward its GDP growth projections for India to 7 per cent compared to 6.8 per cent projected in April.
Last month, the Reserve Bank of India (RBI) revised upward its growth forecast to 7.2 per cent, from 7 per cent estimated earlier.
The Indian economy is on track to grow by 7 per cent in FY2025 (ending 31 March 2025) and 7.2 per cent in FY2026 (next financial year), as projected in ADO April 2024, said the July edition of the Asian Development Outlook (ADO).
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