Asian Development Bank (ADB) on Wednesday lowered India’s growth by 40 basis points to 7.2 per cent in fiscal year 2019-20. Still. It will be fastest growing economy in the world. The growth rate in FY 2020-21 likely to be 7.3 per cent. 

ADB, in its flagship publication Asian Development Outlook 2019, mentioned that recent policy measures by the Government to improve the investment climate and boost private consumption and investment will help India to lift economic growth in the next two fiscal years. ADB projection is slightly higher than projections by other agencies which estimated growth rate between 7 to 7.1 per cent.