The Asian (ADB) on Wednesday retained Indias economic Growth forecast at 6.4 per cent for the current financial year and 6.7 per cent for the next, saying robust domestic demand will continue to support the region’s recovery.
In an update to its Asian Development Outlook, the ADB said Inflation is expected to continue to fall, approaching pre-pandemic levels as fuel and food prices decline. It forecast 3.6 per cent inflation this year for developing economies in Asia, and 3.4 per cent in 2024.
In April, the ADB had projected that India’s economic growth is expected to moderate to 6.4 per cent in the current financial year due to tight monetary conditions and elevated oil prices.