Team Blitz India
NEW DELHI: The Asian Development Bank (ADB) on April 11 revised India’s gross domestic product (GDP) growth forecast for FY25 to 7%, up from its earlier forecast of 6.7%. The bank cited robust public and private investments and a strong services sector for revising its growth estimate upwards.
The Philippines-headquartered regional development bank also expects India to grow at 7.2% in FY26.
The forecast–part of the latest edition of ADB’s flagship economic publication, Asian Development Outlook (ADO) April 2024–states that the triggers for growth will come from higher capital expenditure on infrastructure development, by both the central and state governments, the rise in private corporate investment, strong services sector performance, and improved consumer confidence.
During FY26, ADB expects India’s growth momentum to pick up on the back of improved goods exports, and an increase in manufacturing productivity and agricultural output
