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Tag: ADB

India’s Growth Forecast for 2014-15 to 5.5%: Asian Development Bank (ADB)

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ADB says India’s economic growth is expected to pick up to 6% in 2015-16, as a speeding up in advanced economies bolsters external demand and government action opens some structural bottlenecks that have impeded industry and investment.
ADB says India’s economic growth is expected to pick up to 6% in 2015-16, as a speeding up in advanced economies bolsters external demand and government action opens some structural bottlenecks that have impeded industry and investment.

New Delhi: The Asian Development Bank (ADB) on Tuesday reduced India’s-growth forecast for 2014-15 to 5.5% from its December estimate of 5.7% on the back of a sharper-than-expected industrial slowdown.

In its Asian Development Outlook, the Manila-based multilateral lending agency said the Indian-economy has bottomed out in the last fiscal year, but the economy will not reach its potential until remaining structural bottlenecks are overcome.

“Weaknesses remain, however, and include persistent inflation, fiscal imbalances, bottlenecks to investment, and inefficiencies that require structural reforms,” the bank said. “Without a systemic resolution to these, growth is forecast to pick up modestly.”

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