Risky premise: On Asian Development Bank forecast, India’s GDP growth
8 months, 1 week ago

Risky premise: On Asian Development Bank forecast, India’s GDP growth

The Hindu  

The Asian Development Bank on Thursday raised its forecast for India’s GDP growth in the current fiscal year ending on March 31, 2025, to 7%, from 6.7% earlier, citing robust public and private investment as well as expectations of a gradual improvement in consumer demand as the rural economy recovers. The ADB’s latest growth forecast for India’s GDP is, however, still slower than the 7.6% pace that India’s National Statistical Office has estimated for the 12 months that ended on March 31. It also noted that while the Centre’s capital expenditure spending had been strong and was projected to grow with rising budgetary allocation, project completions in the private sector had failed to match rising project announcements. Given the challenges flagged by the lender to global merchandise trade, including the extremely volatile situation in West Asia and the disruptions to the normal east-west shipping route through the Red Sea, India must heed the ADB’s recommendations to integrate better with global supply chains and improve its logistics infrastructure post haste.

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