New Delhi: The government is at the behest of the opposition regarding the ongoing economic markets in the country. Many companies have stopped their production due to the recession. At the same time, the government is denying any such recession. Many international organizations of the world have also lowered India's economic growth forecast. Asian Development Bank ie ADB has also joined this link. ADB has reduced the country's growth rate from seven per cent to 6.50 per cent. However, the bank has expected India's growth rate to be faster than China.
Gold price high again, silver rate recorded drop
The ADB said, "After the growth rate came down to 5 per cent in the first quarter, the growth rate for FY 2019-20 has been reduced to 6.50 per cent. In July, ADB reduced India's growth forecast for 2019-20 from 7.2 per cent to 7 per cent. The bank said the decline in manufacturing and investment, reduction in lending by banks and other financial institutions, softening of the rural economy and a weakening global situation suggest uncertainty.
New Flight started from Delhi to Toronto, Air India employees celebrated this way
The ADB has said that the country's growth rate will again reach 7.20 per cent in 2020-21. Regarding China, ADB said that its economic growth rate will come down from 6.60 per cent last year to 6.20 per cent this year and six per cent next year. Let us know that the government has made many big announcements in the past to improve the economy. In which the reduction in company tax is prominent.
This festive season, win a trip to Abu Dhabi by availing professional loans from Bajaj Finserv