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ADB Forecast Growth Rate in 2016-17

News and Press Release - Dated:- 30-4-2016 - Asian Development Bank (ADB) has forecast growth rate at 7.4% in 2016-17 as against 7.6% during 2015-16. The details and reasons cited by ADB for lower growth rate during 2016-17 are as under: Public investment will continue to be an important driver of growth, as the Government is expected to use savings from oil to further boost Government investment. However, the finances available to ramp up investment in 2016-17 will be smaller than in 2015-16, g .....

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ter growth, given pressures from an uptick in inflation and government s commitment towards fiscal consolidation. The slowdown would be a result of the expected decline in external demand due to anemic growth in important export destinations such as United States, Euro area and People s Republic of China. Public investment growth is also estimated to slow down with central government s capital expenditure growth declining from 20.8% in 2015-16 to 3.9% in 2016-17. Finally, the weak balance sheets .....

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