Asian Development Bank on Tuesday raised India's growth forecast for the current fiscal to 8.5 per cent from 8.2 per cent but expressed concern over persistent high inflation and rising value of rupee which could undermine future economic expansion.
The government on Tuesday said the decision to repay pre-maturely two-dozen high cost ADB and World Bank loans totalling $2.8 billion will not impact fiscal deficit and the repayment would be done from February 15 to 18 this year.
Revising India's GDP upwards by 0.3 per cent to 6.3 per cent in 2015, Asian Development Bank (ADB) has said the economy shows a new promise of turnaround after the election brought a stable government in May.
"The Asian Development Bank will provide India up to 700 million dollar in loans to accelerate its roll-out of infrastructure projects through public-private partnership initiatives."
Multilateral lending agency Asian Development Bank said on Thursday it is likely to revise upwards by the September-end India's growth and inflation forecast, which is 8.2 per cent and 5 per cent respectively for the current fiscal.
Asian Development Bank will double its annual assistance to over $2 billion and is expected to lend India $7.3 billion in the next three years.
India and Pakistan may require more than two pipeline schemes for importing gas from countries like Iran, Turkmenistan
Asian Development Bank on Monday said India needs to increase investment rate and improve productivity on a massive scale if its economy was to expand beyond 7-8 per cent.
India's GDP is likely to grow at 6.5 to 7 per cent in the current fiscal year amid global challenges which may impact exports, said Economic Survey 2023-24 tabled in Parliament on Monday. The growth projected for 2024-25 is lower than the economic growth rate of 8.2 per cent estimated for the previous financial year. The Reserve Bank has projected the GDP growth for the fiscal year ending March 2025 at 7.2 per cent.
The Asian Development Bank said on Wednesday India, despite making significant improvement in access to primary education, will not meet the millennium development goal targets as in the case of other countries in the Asia Pacific region.
A study, commissioned by ADB and titled 'Policy Changes for Asia after the Global Recession: Impact of the Global Economy and Policy Implications', found Asian economies are poised for accelerated growth as the global economic crisis recedes.
Optimistic on India sustaining 7 to 8 per cent growth, Asian Development Bank on Wednesday said it might scale up assistance to $3 billion annually and is ready for another Rupee bond issue for funding private sector.
Asian Development Bank on Monday warned that job reservation in private sector could lead to swift flight of skilled labour from India.
Attributing to three studies on agriculture, energy and migration, the ADB said on Wednesday the impacts of rising temperatures in Asia would fall disproportionately on the region's poor, and rural women from developing countries would be among the most affected groups.
The Asian Development Bank has approved a $400 million loan to build roads in Madhya Pradesh and Chhattisgarh, the bank said in a statement in Manila on Monday.
Jammu and Kashmir will receive 'liberal financial support' for modernisation projects from the Asian Development Bank, the government said on Thursday.
The Union government has engaged the Asian Development Bank to provide technical assistance in implementing the new pension scheme for the unorganised sector.
Lauding India's economic reform process, the Asian Development Bank expected the country's economy to grow by 7-8 per cent in the medium term and said it would step up its loan exposure to $2 billion annually.
The Asian Development Bank on Monday projected that Indian economy was poised to grow by 6 per cent this year, marginally better than South Asia's growth of 5.7 per cent.
Indians are conservative, curious and women here are expected to dress modestly to avoid sexual harassment. This is the advice given out by the Asian Development Bank to all its delegates visiting India for the annual meeting beginning in Greater Noida on Thursday.
Assistance would be given to Small Industries Development Bank of India and its partner micro finance institutions to review and revise their gender policies and practices.
The Asian Development Bank on Thursday revised upwards its growth projection of Indian economy to 6.7 per cent in 2003, but cautioned that GDP was expected to grow by 6.3-6.4 per cent next year.
The Asian Development Bank is all set to tap the Indian capital market with its maiden bonds issue amounting to over Rs 455 crore (Rs 4.55 billion) and said its loan sanction to the country would go up to $1.7 billion next year.
With a total assistance of $122.21 million, India stood second to China in cornering loans from Asian Development Bank in the first quarter of this calendar year.
Asian Development Bank has predicted that South Asian economy, 80 per cent of which is accounted for by India, will grow at a slower pace of 7.7 per cent in 2007.
The Chinese yuan has the potential to be an alternative to the US dollar and help create a multi-currency global reserve system, says an Asian Development Bank report.
The rural co-operative credit sector in the country is set to get a boost with $1 billion loan from the Asian Development Bank to the centre.
Asian Development Bank has said that India's fiscal deficit targets are unlikely to be met this year due to large government spending and slow pace of domestic fuel price adjustment.
Multilateral lending agency Asian Development Bank has revised upwards India's growth projection to 6 per cent for the current fiscal on account of rising business confidence but warned that inflationary pressure would continue.
It forecasts better growth on the back of stronger external demands and progress on reforms.
ADB would clear the amount by September 2005 and loans would be sanctioned by March 2006.
ADB's calculations imply almost half of India's population (47.7 per cent) was below the line in 2010. Both these estimates are based on the year 2005's purchasing power parity rates.
India will receive $9.2 billion Asian Development Bank loan during 2008-10 for 31 projects in sectors like energy, transport and financial services, Finance Minister P Chidambaram said on Wednesday.
India is set to witness a roller-coaster growth in the next three years ranging between 6-7 per cent mainly due to fluctuations in prospects of industry and services sectors, according to the Asian Development Bank.
In its global economic forecast update for 2009, the World Bank projected a growth rate of 4 per cent for India during 2009-10, while the ADB, in its outlook, expects the economy to expand by 5 per cent. A separate outlook by the Organisation for Economic Cooperation and Development, a club of developed countries, has forecast a 4.3 per cent growth rate for India. India had last grown below this level in 2002-03, when the economy expanded by 3.8 per cent.
