New Delhi: The Asian Development Bank (ADB) raised India’s GDP growth forecast to 7 percent for 2024-25. It expects consumer demand to improve along with public and private sector investment. Earlier in December, ADB had estimated India’s economic growth rate to be 6.7 percent for the 2024-25 financial year. ADB also expects India’s inflation rate to decline going forward. “The Indian economy grew strongly in manufacturing and services. It will continue to grow rapidly. Growth will be driven mainly by strong investment and recovery in consumer demand. Inflation will continue…
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