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.
This story is from the December 12, 2024 edition of Financial Express Bengaluru.
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This story is from the December 12, 2024 edition of Financial Express Bengaluru.
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