ADB Trims 2016 India’s Growth Estimate to 7%
The Asian Development Bank (ADB) lowered the 2016 growth estimate for India to 7 per cent from the previous 7.4 per cent on December 13, 2016, due to demonetisation, weak investment and agricultural slowdown. However, India’s growth forecast for 2017 remained unchanged at 7.8 per cent.Besides,
ADB also downgraded 2016 growth for Asia to 5.6 per cent, from the previous 5.7 per cent while for 2017, growth was kept same at 5.7 per cent The growth estimate for Southeast Asia was kept at 4.5 percent for 2016 and 4.6 percent in 2017.
China’s was projected to grow 6.6 per cent in 2016 and 6.4 per cent in 2017
ADB Bank
The Asian Development Bank is a regional development bank to promote social and economic development in Asia.
Headquarters: Mandaluyong, Philippines
President: Takehiko Nakao
Founded: December 19, 1966
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