ADB projects India’s GDP growth at 7% in 2024-25, with retail inflation expected to ease; downside risks include global shocks.
About ADB’s Economic Projections:
The Asian Development Bank (ADB) predicts India’s GDP growth to slow from 7.6% in 2023-24 to 7% in 2024-25, before rebounding to 7.2% in 2025-26.
Retail inflation is expected to ease to 4.6% this year and 4.5% in 2025-26, with food inflation dropping to 5.7% due to normal farm output.
ADB cites potential downside risks from global shocks like crude oil price spikes and domestic uncertainties in agriculture, alongside upside potential from accelerated FDI inflows and enhanced global growth.
source:aravot
About Asian Development Bank (ADB):
Established: on December 19, 1966, as a multilateral development bank.
Mission: Foster economic growth and cooperation in the Asia-Pacific Region.
Functions: Provides loans, technical assistance, grants, equity investments, and facilitates policy dialogues and advisory services.
Headquarters and Membership:
Headquarters: Manila, Philippines.
Membership: 68 members, with 49 from Asia-Pacific and 19 from outside.
Control: Governed by a board of governors with a weighted voting system based on capital subscriptions.
Major shareholders: Japan, United States, China, India, Australia, with respective shares.
Note:
ADB Conference:
Theme (2023): Strengthening Regional Cooperation and Integration through Economic Corridor Development (ECD).
Objective: Integrate spatial transformation/Area-Centric Approach with ECD, foster regional cooperation, share ECD framework, and operational guidelines.
India's No.1 PU & Degree With Integrated IAS & IPS(UPSC/PSC) Training College.
source:aravot
