- India’s growth is now seen at a slower 5.1% in 2019-20
- The Asian Development Bank (ADB)has trimmed its forecasts for economic growth in developing Asia this year and next year as growth in the People’s Republic of China (PRC) and India is weighed down by both external and domestic factors.
- In South Asia, India’s growth is now seen at a slower 5.1% in fiscal year 2019 (2019-20) as the foundering of a major nonbanking financial company in 2018 led to a rise in risk aversion in the financial sector and a credit crunch.
- In a supplement to its Asian Development Outlook 2019 Update released in September, ADB now expects gross domestic product (GDP) in the region to expand 5.2% in both 2019 and 2020, down from the September forecast of 5.4% growth this year and 5.5% next year.
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