Context:
The Asian Development Bank (ADB) on Wednesday lowered its India growth forecast for the current financial year (FY25) to 6.5 per cent from 7 per cent earlier.
Highlights:
- ADB low downs revised the India growth forecast to 6.5% for FY 25 which previously stood at 7.5%.
- Industries have been reeling under lower industrial output, tighter prudential norms, subdued public capital expenditure, and elevated food prices.
Asian Development Bank
- Established in 1966, on December 19
- The Asian Development Bank (ADB) is a multilateral development bank that works to improve the quality of life in developing member countries
- Headquarter
- Philippines.
- President
- Masatsugu Asakawa
- Members
- India joined the organization in 1966. Apart from this 69 other countries are also the members.
