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The Asian Development Bank (ADB) on Wednesday, 11 December, trimmed its forecast for India’s economic growth in 2019-20 to 5.1 percent saying consumption was affected by slow job growth and rural distress aggravated by poor harvest.
In September, ADB forecast India’s GDP to grow 6.5 percent in 2019-20 and 7.2 percent in the year thereafter.
“Also, consumption was affected by slow job growth and rural distress aggravated by a poor harvest,” it said.
ADB said growth should pick up to 6.5 percent in the next fiscal year with supportive policies.
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