ADB supplement report says India expected to achieve projected growth rate of 7.4% in 2017

An Asian Development Bank supplement report has said, India is expected to achieve the projected growth rate of 7.4 per cent in 2017 and further up 7.6 per cent next year on strong consumption demand. 

According to the report, South Asia will be the fastest growing of all sub-regions in Asia and the Pacific, with growth on track to meet original projections of 7 per cent in 2017 and 7.2



per cent in 2018.

In the supplement, ADB has upgraded its growth outlook in the Asian region to 5.9 per cent in 2017 from 5.7 per cent and to 5.8 per cent for 2018 from 5.7 per cent.

Yasuyuki Sawada, ADB's Chief Economist said, Developing Asia is off to a good start this year with improved exports pushing growth prospects for the rest of 2017.