ADB raises India growth forecast to 7% from 6.7%

The Asian Development Bank increased India's growth forecast to 7 per cent, emphasizing the impact of FDI inflow, weather shocks, and global inflation risks. Central banks may tighten financial conditions in response to negative global shocks. It also estimated inflation to stay around 4.6 per cent in 2024. ADB had projected the Indian economy to grow 7.6 per cent last year.