{"id":86281,"date":"2019-09-26T16:35:01","date_gmt":"2019-09-26T11:05:01","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=10429"},"modified":"2019-09-26T16:35:01","modified_gmt":"2019-09-26T11:05:01","slug":"adb-cuts-indias-gdp-growth-forecast-to-6-5-for-fy20","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/adb-cuts-indias-gdp-growth-forecast-to-6-5-for-fy20\/","title":{"rendered":"ADB cuts India\u2019s GDP growth forecast to 6.5% for FY20"},"content":{"rendered":"\n<p><strong>News:<\/strong>Asian Development Bank has released an update to its flagship Asian Development Outlook,2019.<br><\/p>\n\n\n\n<p><strong>Facts:<\/strong><br><\/p>\n\n\n\n<p><strong>Key takeaways from the report:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The report has slashed India\u2019s growth forecast for fiscal 2019-20 to 6.5% from 7% projected in July,2019.<\/li><li>The growth was lowered due to slowdown in consumption and investment activities that hit manufacturing and service sectors.<\/li><li>ADB has said that proactive policy interventions along with a recovery in domestic demand and investments will likely see the economy pick up to 7.2% in 2020-21.<\/li><li>The report has also said that the measures such as (a)corporate tax cuts (b)direct income support for small farmers (c)tax relief for low-income taxpayers and (d)reduced loan interest rates will boost the growth.<\/li><li>Further,the foreign direct investment could get a boost as trade tensions between the United States and China may push some businesses to move part of their operations to India.<\/li><li>However, the ADB cautioned that risks remain tilted to the downside due to the weak global economy and slowdown in the consumption on domestic front.<\/li><\/ul>\n\n\n\n<p><strong>Additional information:<\/strong><br><\/p>\n\n\n\n<p><strong>About Asian Development Bank(ADB):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966.<\/li><li>ADB is headquartered in Manila, Philippines.It aims to promote social and economic development in Asia.<\/li><li>It assists its members and partners by providing loans, technical assistance, grants and equity investments to promote social and economic development.<\/li><li>ADB has 67 members, of which 48 are from within Asia and the Pacific and 19 outside.&nbsp;<\/li><li>Japan and US holds the largest proportion of shares in ADB followed by China, India and Australia. ADB is also an official United Nations Observer.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News:Asian Development Bank has released an update to its flagship Asian Development Outlook,2019. Facts: Key takeaways from the report: The report has slashed India\u2019s growth forecast for fiscal 2019-20 to 6.5% from 7% projected in July,2019. The growth was lowered due to slowdown in consumption and investment activities that hit manufacturing and service sectors. ADB&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/adb-cuts-indias-gdp-growth-forecast-to-6-5-for-fy20\/\">Continue reading <span class=\"screen-reader-text\">ADB cuts India\u2019s GDP growth forecast to 6.5% for FY20<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[3333,3491,42],"class_list":["post-86281","post","type-post","status-publish","format-standard","hentry","category-economy","tag-adb","tag-gdp-forecast","tag-india","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704718058},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=86281"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86281\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=86281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=86281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=86281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}