India's economy continues on robust growth path: ADB
On India, the ADB report said its economy continues on a robust growth path. "Its growth forecasts are unchanged at 7.3 per cent for 2018 and 7.6 per cent for 2019 as the temporary effects of the demonetisation of large banknotes and the introduction of the national Goods and Services Tax abate as expected," it said.
India's economy continues on a robust growth path, the Asian Development Bank (ADB) said Wednesday while maintaining the growth forecast for the current fiscal at 7.3 per cent.
However, depreciation of the rupee and volatile external financial markets pose challenges, the multilateral lending agency added, in an update of its flagship annual economic publication, the Asian Development Outlook (ADO) 2018.
Growth remains stable across most of developing Asia due to robust domestic demand, buoyant oil and gas prices and a consolidation of India's growth rebound, it said.
"But escalating trade tensions will test the region's resilience, underscoring the importance of efforts to bolster trade ties among its countries," it added.
On India, the report said its economy continues on a robust growth path. "Its growth forecasts are unchanged at 7.3 per cent for 2018 and 7.6 per cent for 2019 as the temporary effects of the demonetisation of large banknotes and the introduction of the national Goods and Services Tax abate as expected," it said.
The report further said the impact of the rising oil prices is offset by robust domestic demand and rising exports, particularly of manufactures.
Watch this Zee Business video
"Depreciation of the rupee and volatile external financial markets pose challenges, as does accelerating inflation though tighter fiscal policy will help quell inflationary pressures," said the report of the Manila-based development bank.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES

Top 7 Large Cap Mutual Funds With Best SIP Returns in 15 Years: Rs 8,888 monthly investment in No. 1 scheme has jumped to Rs 62,74,008; note down details

Revised New Tax Slabs: How much tax one needs to pay on salaries of Rs 13.75 lakh, Rs 16.50 lakh, Rs 19.25 lakh and Rs 26.75 lakh; see calculations

Top 7 SBI Mutual Funds With Highest SIP Returns in 20 Years: Rs 6,666 monthly SIP investment in No. 1 fund has sprung to Rs 1,40,40,685

Senior Citizen Guaranteed Return Schemes: SBI, BoB, PNB and other banks are providing these interest rates on 1-year, 3-year, and 5-year FDs

Home Loan Interest Saving: How you can save Rs 16.40 lakh on Rs 50 lakh home loan by increasing EMI amount by 5.41%?

Rs 25 lakh Income, Rs 50 lakh Home Loan: Starting April 1, how you can save Rs 1.38 lakh/year in tax and loan interest; see expert calculations

SIP vs PPF: Rs 1,40,000/year investment for 30 years; which scheme can generate a higher retirement corpus

Retirement Planning: How one-time investment of Rs 9,00,000 can create Rs 2,70,00,000 retirement corpus
11:03 AM IST