ADB lowers India's GDP growth forecast to 5.1%

The Asian Development Bank (ADB) has trimmed its forecast for India's economic growth in 2019-20 to 5.1 % from 6.5 %.
In September, ADB forecast India's GDP to grow 6.5 % in 2019-20 and 7.2 % in the year 2020-2021.
The ADB declared growth would pick up to 6.5 % in 2020-21 with "supportive" policies.
ADB's projection for India's economic growth in FY20 is almost in line with the Reserve Bank of India's. The central bank has projected India to grow by 5 % during the fiscal year.
India's economy expanded by 5 % in the first quarter and 4.5 % in the second quarter of the current fiscal year.
Masatsugu Asakawa appointed as President of Asian Development Bank (ADB).He will assume office as ADB’s 10th president on Jan. 17, 2020.He will succeed Takehiko Nakao, who will leave office on Jan. 16, 2020.