Asian Development Bank (ADB) in its Outlook Supplement has retained India's growth forecast at 7.3% for current fiscal (2018-19) and 7.6% in the following financial year (2019-20).
a. World Bank
b. Credit Suisse
c. Asian Development Bank
d. None of the above
- It held that India is maintaining growth momentum on rebounding exports and higher industrial and agricultural output.
- India saw GDP growth moderate to 7.1% in Q2 of FY2018 (ending March 31, 2019) from 8.2%in Q1.
- The slowdown came mainly from food prices, rising oil prices delivering negative shock in terms of trade, lower rural consumption, and rising costs for raw materials.
- But growth forecasts of 7.3% for 2018-19 and 7.6% for 2019-20 are retained from update despite some downside risks.
About Asian Development Bank (ADB):
- ADB is a regional development bank based out of Asia.
- It aims to promote social and economic development in Asia by achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
- It was established in December 1966.
- It is headquartered at Ortigas Centre in Manila, Philippines.
- It has total 67 members, of which 48 are from within Asia and the Pacific and 19 outside.
Question:
Q. Who in its Outlook Supplement has retained India's growth forecast at 7.3% for current fiscal (2018-19) and 7.6% in the following financial year (2019-20)?a. World Bank
b. Credit Suisse
c. Asian Development Bank
d. None of the above
