Asian Development Bank Keeps India's Growth Forecast Unchanged At 6.4%

Asian Development Bank said inflation is expected to continue to fall, approaching pre-pandemic levels as fuel and food prices decline.

The Asian Development Bank (ADB) on Wednesday retained India's economic growth forecast at 6.4 per cent for the current financial year and 6.7 per cent for the next, saying robust domestic demand will continue to support the region's recovery.

In an update to its Asian Development Outlook, the ADB said inflation is expected to continue to fall, approaching pre-pandemic levels as fuel and food prices decline. It forecast 3.6 per cent inflation this year for developing economies in Asia, and 3.4 per cent in 2024.

The Indian economy grew 7.2 per cent in the 2022-23 fiscal ended March 2023.