ADB lowers India’s growth forecast to 6.3 per cent for FY24, raises inflation forecast
The Asian Development Bank (ADB) has revised India's growth forecast downward to 6.3% from 6.4% due to erratic monsoons impacting agricultural output. ADB also revised its inflation outlook to 5.5% from 5% due to unexpectedly high food prices. However, ADB retained its growth forecast for next year, projecting a growth of 6.7% in FY25, driven by rising private investment and industrial output.
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