ADB leaves India's growth projections unchanged, China's lowered | business | Hindustan Times
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ADB leaves India's growth projections unchanged, China's lowered

business Updated: Jul 16, 2015 15:37 IST
HT Correspondent
HT Correspondent
Hindustan Times
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The Asian Development Bank, in its latest review on Thursday, maintained that India was likely to register a growth rate of 7.8% in 2015 backed by improved performance in both industry and services while structural bottlenecks are expected to be addressed.

However, ADB lowered China's growth estimates to 7% this year as compared to its earlier projection of 7.2%. It also lowered its growth projection for 2016 to 6.8% from 7% projected in March.

According to ADB, with a supportive monetary and declining inflation rate India's growth rate could further increase to 8.2% in 2016. A pick-up in capital expenditure is also expected.

Meanwhile, due to slower growth in the most populous country of Asia, the bank has reduced its growth forecasts for developing Asia to 6.1% in 2015 and 6.2 % in 2016 as against 6.3% projected earlier for both the years.

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