Recently, the Asian Development Bank (ADB) has revised its growth forecast for India’s economy.

The Asian Development Bank (ADB) has revised its growth forecast for India’s economy to 6.3% for this year, down from the previous estimate of 6.4%.
- This revision is attributed to the impact of falling exports and erratic rainfall patterns affecting agricultural output.
ADB economists have also raised their inflation forecast for the year to 5.5%, up from the earlier estimate of 5%.
The ADB maintains its real GDP growth projection for 2024-25 at 6.7%, anticipating increased private investment and industrial output.

Asian Development Bank (ADB)

Asian Development Bank (ADB) established in 1966 is owned by 68 members, with 49 of them from the region.
ADB’s mission is to achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, with a focus on eradicating extreme poverty.
ADB provides support to its members and partners through various means, including loans, technical assistance, grants, and equity investments, to promote social and economic development.
The primary goal of ADB is to foster social and economic development in the Asia and Pacific region.
ADB’s five largest shareholders, as of December 31, 2022, are Japan and the United States (each with 15.6% of total shares), the People’s Republic of China (6.4%), India (6.3%), and Australia (5.8%).
ADB is headquartered in Manila, Philippines.