The Asian Development Bank said that India’s growth rate will improve to 7.4 percent during 2017-18 and go up further to 7.6 per cent in the next fiscal year
In the Asian Development Outlook, the bank’s flagship economic publication, reasons given for this forecast are: “The impact of the demonetization of high-value banknotes is dissipating as the replacement banknotes enter circulation. Stronger consumption and fiscal reforms are also expected to improve business confidence and investment prospects in the country.” The report also noted that India’s economic reforms initiative, including the liberalization of the Foreign Direct Investment regime, and the Goods and Services Tax that is expected to roll out from July, are favorable to the country.
Commenting on future prospects, it said that in two-thirds of economies in developing Asia, the growth is being supported by higher external demand, rebounding global commodity prices, and domestic reforms, making the region the largest single contributor to global growth at 60 percent, reports the Economic Times.
Last updated: December 26th, 2025
