ADB lowers India’s growth forecast for 2017 and 2018

Wed, Sep 27 2017, 01:22 PM

The Asian Development Bank (ADB) has revised downwards its economic growth forecast for India to 7% in 2017 (from 7.4% forecast in April) and 7.4% in 2018 (from 7.6% forecast earlier). It attributed this to “short-term disruptions” such as India’s sudden move to ban high-currency notes last November and the implementation of the goods and services tax regime from July 1, while adding that these are expected to dissipate.