ADB lowers India's GDP growth forecast to 6.5% for FY25 on weak growth

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ADB lowers India's GDP growth forecast to 6.5% for FY25 on weak growth - Business Standard

Quick Summary:

The Asian Development Bank (ADB) on Wednesday lowered India's economic growth forecast to 6.5 per cent for the current financial year from its earlier estimate of 7 per cent due to lower-than-expected growth in private investment and housing demand.

Changes in US trade, fiscal, and immigration policies could dent growth and add to inflation in developing Asia and the Pacific, according to the latest edition of Asian Development Outlook (ADO).

The multilateral development bank has also lowered India's growth forecast for 2025-26 financial year.