ADB lowers India's growth projection to 7.2% for FY20
Updated : April 04, 2019 08:49 PM IST
For the just concluded fiscal (2018-19) also, ADB has cut the growth estimate to 7 percent from 7.3 percent projected in December last year.
Growth slowed from 7.2 percent in fiscal 2017 to 7 percent in 2018, with weaker agricultural output and consumption growth curtailed by higher global oil prices and lower government expenditure.
The growth forecast for India has some downside risks such as moderation in global demand as financial conditions tighten, uncertainty arising out of global trade tensions, and the weak economic outlook in industrial countries, the report said.
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