ADB says India's growth to moderate to 6.4% in FY24
Image Credit: ADBOutlookApril2023Report
Asian Development Bank on Tuesday said India's GDP is expected to moderate to 6.4% in 2023-24 from 6.8% growth in 2022-23 due to tight monetary conditions and elevated oil prices. The Indian economy is expected to grow at 6.7% in 2024-25, ADB said. According to ADB's publication, Asian Development Outlook (ADO) April 2023, released on Tuesday, said rising food and fuel prices pushed inflation up beyond the central bank's target.