Asian Development Bank Pins Down India’s GDP Growth At 7% For FY25.
By: Geetanjali
The Asian Development Bank (ADB) on Thursday, April 12, 2024, published its revised GDP growth forecast for India for the financial year 2025. For New Delhi the revised forecast for the fiscal year 2024 that will end on March 31st, 2025 is estimated around 7% from its previous estimate of 6.7% GDP growth rate for the same year.
And for the Fiscal year 2025 that will end in March 2026, ADB has predicted GDP growth of 7.2%, 0.2% higher than the fiscal year 2024.
India’s GDP growth rate and Inflation rate projected by ADB. (All data in %)
| 2022 | 2023 | 2024 | 2025 |
| 7.0 | 7.6 | 7.0 | 7.2 |
| 2022 | 2023 | 2024 | 2025 |
| 6.7 | 5.5 | 4.6 | 4.5 |
Source: Asian Development Bank outlook report 2024.
The ADB said in its Outlook report 2024 said, “The economy grew robustly in fiscal 2023 with strong momentum in manufacturing and services. It will continue to grow rapidly over the forecast horizon. Growth will be driven primarily by robust investment demand and improving consumption demand. Inflation will continue its downward trend in tandem with global trends,”.
ADB mentioned in its report that the Indian economy has seen a robust growth during the FY24 with focus on manufacturing and service industry. Bank also predicted that the exports during the current fiscal year might stay low however for the upcoming fiscal year a boost in the exports can be predicted.
FAQs (Frequently Asked Questions)
Where is the Asian Development Bank’s headquarter established?
Ans: ADB is based at Mandaluyong, Philippines.
When was the founding stone of ADB (Asian Development Bank) placed.
Ans: It was founded in 1962 as a regional development bank by its 31 founding member countries, in the Philippines.
Which all countries are the members of the Asian Developments Bank?
Ans: ADB has a total of 68 members out of which 49, are regional members from the Asia Pacific and the rest 19 are non-regional members.
When did India join the Asian Development Bank?
Ans: India joined ADB in 1966 and is among the founding members and the fourth largest stakeholder in ADB.
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