ADB lowers India's GDP forecast for FY18 to 6.7%
The Asian Development Bank (ADB) on Wednesday lowered India's GDP forecast for the current fiscal by 0.3% to 6.7%. The bank attributed it to dull growth in the first half of the fiscal, demonetisation and transitory challenges of tax sector reforms. It has also lowered the GDP outlook for next fiscal beginning from April 2018 to 7.3% from 7.4%.