India growth forecast pegged at 7.4% for 2016-2017: ADB

Q.  ADB has cut India’s growth forecast to what figure for 2016-2017?
- Published on 31 Mar 16

a. 7.3
b. 7.4
c. 7.5
d. 7.6

ADB has cut India’s growth forecast to 7.4% for 2016-2017 and global headwinds will pull down the growth rate in the next fiscal. ADB has pegged growth at 7.8% in the earlier instance.
  • ADB’s Asian Development Outlook also projected a rise in consumer inflation
  • This is chiefly on account of the impact of salary hike on government employees and likely mid pick up in global oil prices
  • Indian Finance Ministry has estimated growth to by between 7 to 7.5 percent in the next fiscal year and India is currently one of the fastest growing economies in the world.

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