Asian Bank expressed confidence in India’s economy
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India GDP: On one hand, the economy of a powerful country like America is facing recession and inflation. On the other hand, India’s economy is moving forward at full speed. Now the Asian Development Bank (ADB) is focusing on the country’s economy.ADB) has also expressed confidence. ADB has estimated India’s gross domestic product (GDP) for the current financial year.GDP) The growth rate estimate has been increased from the earlier 6.7 percent to seven percent on Thursday. ADB said that investment demand from public and private sectors will pave the way for strong growth. However, the growth estimate for 2024-25 is lower than the estimated 7.6 percent for the 2022-23 financial year. In December last year, ADB had estimated the growth rate to be 6.7 percent in the financial year 2024-25.
World Bank had increased the growth rate
Earlier on April 3, the World Bank had also estimated the growth rate of the Indian economy to be 7.5 percent in 2024. It has revised its earlier estimate by 1.2 percent. Regarding South Asia growth, the World Bank said on Tuesday that overall the growth rate in South Asia is expected to strengthen to 6.0 percent in 2024. This will be possible mainly due to strong growth in India and the recovery of Pakistan and Sri Lanka to a large extent.
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Morgan Stanley said a big thing
Morgan Stanley has said in a report ‘The Viewpoint: India – Why this feels like 2003-07’ that we believe that the current boom is due to increase in investment compared to GDP. In a similar growth cycle during 2003-07, investment as a proportion of GDP increased from 27 percent to 39 percent. Investment in comparison to GDP was at its highest level till 2011, after which it declined. This decline was seen from 2011 to 2021, however after that the situation started changing and now investment in comparison to GDP has reached 34 percent. The report said that it is estimated to be 36 percent by the financial year 2026-27.
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