logo
 
Asian Development Bank (ADB) has cut India's growth rate for this fiscal year. ADB has estimated India's GDP growth to be 7 percent. It is 0.4 percent lower than the bank's earlier estimate. The bank has also reduced the GDP growth rate for the next financial year. Notebook and GST are being held responsible for this.Asian Development Outlook 2017 Issue.

ADB has released this new estimate in the Asian Development Outlook 2017 update. In April, ADB had rated India's growth rate 7.4, but now it has reduced it to 7 percent. At the same time, for the next financial year 2018-19, the bank has changed its estimate and has made it 7.4 percent. Earlier,



the growth rate for this year was estimated at 7.6 percent.

Business has had on investment. Bank has said that the ban on bondage and GST have affected the expenses of the customers and it has also been affected on business investment. Despite this, India's position remains strong.

The effect will remain for some time only. ADB said that their impact is for short-term and they will have less effect in the medium term and the GDP will get the pace. At the broad level, the bank has kept Asia's growth projections in a better position. Due to better global trade and industrial economy, the growth rate here is expected to be better.
No Comments For This Post, Be first to write a Comment.
Leave a Comment
Name:
Email:
Comment:
Enter the code shown:


Can't read the image? click here to refresh

Todays Epaper

English Weekly

neerus indian ethnic wear
Latest Urdu News

Do you think there should be a retirement age in politics?

Yes
No
Can't Say