Asian Development Bank slashes India's GDP growth forecast to 5.1% in FY 20

The Asian Development Bank (ADB), which in September forecasted India's GDP to grow 6.5% in 2019-20 and 7.2% in the year thereafter, has now trimmed its forecast for India's economic growth in 2019-20 to 5.1%. The ADB cited slow job growth and rural distress aggravated by poor harvest as the reason behind slow growth. It said the growth should pick up to 6.5% in the next fiscal year with supportive policies.