• UGI USER
  • Jul 18, 2024
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ADB’S GDP GROWTH OUTLOOK FOR INDIA

Why in the news?

  • The Asian Development Bank (ADB) expects India’s GDP growth to be 7% for FY25, with inflation averaging 4.6%.
  • For FY26, ADB projects GDP growth at 7.2% and retail price rise at 4.5%.
  • ADB has maintained its growth projection for China at 4.5% for 2024.
  • The inflation estimate for China has been revised down from 1.1% to 0.5%.
source:geo.tv

About ADB’s Asian Development Outlook report:

  • Annual Publication: Released by the Asian Development Bank (ADB).
  • Economic Analysis: Offers comprehensive economic insights for the Asia-Pacific region.
  • Forecasts: Provides economic forecasts for the upcoming year.
  • Key Trends: Identifies major economic trends affecting the region.
What is  the Asian Development Bank (ADB)?

About:

  • Established: 1966
  • Vision: A prosperous, inclusive, resilient, and sustainable Asia and the Pacific, eradicating extreme poverty.

Activities:

  • Support: Loans, technical assistance, grants, equity investments for social and economic development.
  • Headquarters: Manila, Philippines
  • Members: 68 total (49 from Asia-Pacific, 19 from outside.

ADB and India:

  • India’s Role: Founding member and fourth-largest shareholder.
  • Support Focus: Robust, climate-resilient, inclusive growth, aligned with ADB’s Strategy 2030 and country partnership strategy 2023-2027.

Associated Article:

https://universalinstitutions.com/adb-projects-indias-gdp-growth-in-2024-25-at-7/#:~:text=About%20ADB’s%20Economic%20Projections%3A,due%20to%20normal%20farm%20output.