• According to the Asian Development Bank (ADB), India’s economic growth is expected to rebound to 7.3% this fiscal with increased productivity post GST and investment revival due to banking reform.
• It is a tad lower than RBI’s forecast of 7.4% for this fiscal.
• Growth is expected to pick up further to 7.6 % in FY2019 as efforts are on to strengthen the banking system.
• It projected inflation to average 4.6% in FY 2018.
=> About ADB
• The Asian Development Bank (ADB) is a regional development bank established on 19th December 1966, headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines.
• ADB assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
• ADB is composed of 67 members, 48 of which are from the Asia and Pacific regions.