ADB raises India’s growth forecast to 6.7% for FY24
New Delhi, December 14
The Asian Development Bank (ADB) has raised India’s growth forecast to 6.7% for the current financial year from its earlier projection of 6.3% on account of higher-than-expected second quarter numbers.
The second quarter of FY24 saw higher-than-expected GDP growth of 7.6%, causing growth in the first half (April-September) to expand by a strong 7.7%, according to the Asian Development Outlook December 2023 released on Wednesday.
Economic data also indicate that the industrial sector in particular, including manufacturing, mining, construction, and utilities, grew by double digits, it said.
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