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1. What is the Asian Development Bank's (ADB) forecasted GDP growth rate for India in FY24?
The Asian Development Bank (ADB) has retained its forecast for India's GDP growth rate at 7% for FY24, driven by strong performance in agriculture, industry, and services. This growth rate is attributed to the government's fiscal consolidation efforts and resilience amidst global geopolitical challenges. Key growth drivers for FY24 include agricultural improvements, robust performance in the industrial and services sectors, and rural spending. The ADB also forecasts a growth rate of 7.2% for FY25, driven by private investments, urban consumption, and job creation through employment-linked incentives.