ADB News

The ADB's growth forecast for FY25 is in line with the projections made by the Reserve Bank of India (RBI).  

Asian Development Bank (ADB) has slashed India's economic growth projection for 2022-23. GDP growth is revised down from ADO 2022's forecasts to 7 per cent for FY2022. ADB expects the Chinese economy to expand by 3.3 per cent in 2022 rather than the 5 per cent forecast earlier.

The number of people in extreme poverty - defined as those living on less than $1.90 a day - was 24.3 million last year, or 3.7% of Southeast Asia`s collective 650 million population, the ADB said in a report.

ADB said women often find it difficult to obtain mortgage loans in India. The CFPS loan will support IIFL's green housing portfolio, specifically towards incentivizing developers to adopt green certification standards in building affordable housing. Lack of property ownership contributes to the low social status of women, their vulnerability to poverty, and low bargaining power within households, ADB said further.

ADB has downgraded India's economic growth forecast. It had forcast 11% growth in April. GDP growth recovered to 1.6% in last quarter.

Pakistan has failed to complete 25 of the 27 action points given by the international terror financing watchdog FATF to check funding to terrorist groups such as LeT and JeM and frontal groups like Jamat-ud-Dawah and Falah-e-Insaniat Foundation.

ADB committed USD 3.03 billion in sovereign loans to India in 2018, the highest ever annual lending commitment, he said, adding that USD 557 million loan was for the private sector.

The activities under the project would also boost economic opportunities for the local people.

The project finances would be used to, among others, augment water treatment production capacity by about 16 millions liters per day.

Growth remains stable across most of developing Asia due to robust domestic demand, buoyant oil and gas prices and a consolidation of India's growth rebound, it said.

India will continue to be the world's fastest-growing major economy, ahead of China, with 7.3 percent growth rate in 2018-19 and 7.6 percent in 2019-20, the Asian Development Bank (ADB) said today.

ADO published in April had said that India's economic growth will rise to 7.3 percent this fiscal and further to 7.6 percent in the next financial year

He also urged ASEAN countries to set up consulates in Guwahati, besides boosting economic ties.

India rebounded to 6.3 percent growth in the second quarter ended in September for this fiscal.

The committee is scheduled to come out with next bi-monthly monetary policy decision on October 4.

Developing Asia is expected to grow by 5.9 and 5.8 percent in 2017 and 2018, respectively, the Manila-based lender said.

India is expected to achieve the projected growth rate of 7.4 percent in 2017 and further up 7.6 percent next year on strong consumption demand, with South Asia leading the growth chart in Asia and the Pacific, an ADB supplement report said on Thursday.

The Asian Development Bank (ADB) today lauded Prime Minister Narendra Modi's effort of integrating indirect taxes through the GST, even as it wants the Indian market to be more "deregulated" and FDI friendly to realise the true potential.

The Asian Development Bank (ADB) operations exceeded the $30 billion mark for the first time in its 50-year history as regional demand for development finance and knowledge continues to grow, a report said on Tuesday.

The Asian Development Bank (ADB) on Thursday said that India's growth rate will improve to 7.4 percent during 2017-18 and go up further to 7.6 percent in the next fiscal, remaining ahead of China.