ADB retains India's growth forecast at 6.4 pc for FY24

New Delhi: The Asian Development Bank (ADB) on Wednesday retained India's economic growth forecast at 6.4 per cent for FY24 on recovery in consumption demand in both rural and urban areas, but said suppressed exports due to global slowdown will be a drag.

The Indian economy grew 7.2 per cent in



2022-23.

In an update to its Asian Development Outlook (ADO), ADB lowered its inflation projection for current fiscal year (FY24) at 4.9 per cent, from 5 per cent pegged in April, on softening crude oil prices, even though it estimated core inflation to remain “stubbornly high”.