India likely to grow at 7.2% in current fiscal year: ADB

Asian Development Bank, ADB, says India's growth is set to pick up. In its report released, ADB said India is expected to grow at 7.2 per cent in the current fiscal on strengthening consumption.

   

According to the Asian Development Outlook 2019, India's growth slowed from 7.2 per cent in fiscal 2017 to 7 per cent in 2018, with weaker agricultural output and consumption growth curtailed by higher global oil



prices and lower government expenditure. 

It is expected to rebound to 7.2 per cent in 2019 and 7.3 per cent in 2020 as policy rates are cut and farmers receive income support, bolstering domestic demand. 

The report added that sub-region wise, southeast Asia will sustain growth at close to 5 per cent this year and the next one.