The Asian Development Bank (ADB) has denied reports in some sections of the media that said issues related to Pakistan were discussed in the meeting between ADB President Masato Kanda and Indian Finance Minister Nirmala Sitharaman in Milan on Monday (May 5).&nbsp;
The clarification said, &ldquo;The Asian Development Bank (ADB) is aware of media reports claiming that issues related to Pakistan were discussed during the bilateral meeting between ADB President Masato Kanda and Indian Finance Minister Nirmala Sitharaman on the sidelines of the 58th ADB Annual Meeting in Milan, Italy.&rdquo;
These media reports are incorrect. Issues related to Pakistan were not discussed during the bilateral meeting, it added.
Earlier, some reports had claimed that the Indian finance minister had urged ADB to slash funding to Pakistan allegedly over its continued support of cross-border terrorism. The report spread as India had already unleashed a slew of diplomatic and economic measures against Pakistan following the horrific killing of 26 unarmed civilians, mostly tourists, in Pahalgam, Jammu and Kashmir, on April 22, by terrorists belonging to group which is an offshoot of Pakistan-based Lashkar-e-Taiba.
The Asian Development Bank termed the media reports as incorrect and clarified, saying, &ldquo;Issues related to Pakistan were not discussed during the bilateral meeting.&rdquo;
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-mabdkd6b-kim90t8m-mh3zbuum">
Several posts on social media claim that India has urged Italy and the Asian Development Bank to cut funds for Pakistan. <a href="https://twitter.com/hashtag/PIBFactCheck?src=hash&amp;ref_src=twsrc%5Etfw">#PIBFactCheck</a> ❌ This claim is completely fake. India has not made any such request. ✅ Beware! Trust only official government sources for credible&hellip; <a href="https://t.co/H5jrIkGjmc">pic.twitter.com/H5jrIkGjmc</a>
&mdash; PIB Fact Check (@PIBFactCheck) <a href="https://twitter.com/PIBFactCheck/status/1919423436775952748?ref_src=twsrc%5Etfw">May 5, 2025</a></blockquote>
Meanwhile, India&rsquo;s Ministry of Finance also shared a PIB fact check on X stating that social media posts claiming India has urged Italy and the Asian Development Bank to cut funds for Pakistan were incorrect.

World | India News: Earlier, some reports had claimed that the Indian finance minister had urged ADB to slash funding to Pakistan allegedly over its continued support of cross-border terrorism.

The Asian Development Bank (ADB) has denied reports in some sections of the media that said issues related to Pakistan were discussed in the meeting between ADB President Masato Kanda and Indian Finance Minister Nirmala Sitharaman in Milan on Monday (May 5). The clarification said, “The Asian Development Bank (ADB) is aware of media reports claiming that issues related to Pakistan were discussed during the bilateral meeting between ADB President Masato Kanda and Indian Finance Minister Nirmala Sitharaman on the sidelines of the 58th ADB Annual Meeting in Milan, Italy.” These media reports are incorrect. Issues related to Pakistan were not discussed during the bilateral meeting, it added. Earlier, some reports had claimed that the Indian finance minister had urged ADB to slash funding to Pakistan allegedly over its continued support of cross-border terrorism. The report spread as India had already unleashed a slew of diplomatic and economic measures against Pakistan following the horrific killing of 26 unarmed civilians, mostly tourists, in Pahalgam, Jammu and Kashmir, on April 22, by terrorists belonging to group which is an offshoot of Pakistan-based Lashkar-e-Taiba. The Asian Development Bank termed the media reports as incorrect and clarified, saying, “Issues related to Pakistan were not discussed during the bilateral meeting.” Several posts on social media claim that India has urged Italy and the Asian Development Bank to cut funds for Pakistan. #PIBFactCheck ❌ This claim is completely fake. India has not made any such request. ✅ Beware! Trust only official government sources for credible… pic.twitter.com/H5jrIkGjmc — PIB Fact Check (@PIBFactCheck) May 5, 2025 Meanwhile, India’s Ministry of Finance also shared a PIB fact check on X stating that social media posts claiming India has urged Italy and the Asian Development Bank to cut funds for Pakistan were incorrect.

ADB denies reports of Pakistan issue being raised in bilateral meet with Indian Finance Minister

Nepal and the Asian Development Bank (ADB) have signed loan and grant agreements to support the development of water and energy infrastructure in the country. These agreements aim to finance critical projects aimed at improving Nepal's water supply systems and enhancing its energy infrastructure. The initiative is expected to help address long-standing issues related to water scarcity and energy access, contributing to the country’s overall economic growth and sustainability. Both organizations are committed to ensuring that these infrastructure improvements benefit communities across Nepal.

Nepal, ADB Sign Agreements For Water and Energy Infrastructure

Nepal and the Asian Development Bank (ADB) have signed loan and grant agreements to support the development of water and energy infrastructure in the country. These agreements aim to finance critical projects aimed at improving Nepal's water supply systems and enhancing its energy infrastructure. The initiative is expected to help address long-standing issues related to water scarcity and energy access, contributing to the country’s overall economic growth and sustainability. Both organizations are committed to ensuring that these infrastructure improvements benefit communities across Nepal.



A new report by the Asian Development Bank (ADB) has put the spotlight on the rising domestic violence, including physical assault, on women in Pakistan.

The report titled "Gendered Impacts of the Covid-19 Pandemic in Central and West Asia" which was seen by WION aimed at exploring the impact of the COVID-19 pandemic on women in the South Asian country while also throwing light on the ADB projects in Central and West Asia (CWA), including in Afghan­istan, Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Pakistan, Tajikistan, and Uzbekistan.&nbsp;

The 64-page report detailed the "lessons learned and opportunities for gender-responsive public investment."&nbsp;

The report which zoomed in on the state of women in the country was backed by a recent survey that laid out the shocking rise in instances of domestic violence in Punjab and Sindh province in Pakistan. The survey said that 40 per cent of women in Pakistan were inflicted with physical violence, while 46 per cent faced physical assault from spouses.&nbsp;

"14 per cent of surveyed women knew someone in their community who was threatened with physical harm by their husband, 19 per cent knew someone who was physically assaulted by her husband, and 27 per cent knew of cases where children were beaten by their parents," the report highlighted.&nbsp;

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Human rights activists in Pakistan have already labelled domestic violence instances in Pakistan as endemic.&nbsp;

The report also cited the Gender Inequality Index, a parameter that scored the countries basis their gender parity in education, labour markets, maternal and adolescent mortality rates, and women’s parliamentary representation.

The ADB report, while quoting the data in the Central and West Asia (CWA) region, said that Kazakhstan (0.9) and Armenia (0.245) ranked higher on the Gender Inequality Index while Afghanistan (0.66) and Pakistan (0.54) displayed the most gender inequality.&nbsp;

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Moreover, the maternal mortality ratio was at a stunning&nbsp;140 maternal deaths out of 100,000 live births registered in 2017. The report also pointed to the gap in the economic participation between men and women in Pakistan.

"Economic participation of women is relatively low compared to men in all nine countries, with an extremely wide gap in Pakistan, where only 20.6 per cent of employment-age women participate in the labour market compared with 77.7 per cent of men, as well as in Afghanistan, where 16.2 per cent of women participate in the formal labour market versus 65.6 per cent of men," as per the report.

Also, in Pakistan, just 27.6 per cent of girls go to secondary school in comparison to 45.7 per cent of boys.

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ADB said that a review of articles on domestic violence during the pandemic "shed light on the need to change biased discourses on violence that take a masculine, hegemonic perspective, conveying the meaning that women are voiceless and lack agency."

"The review of these articles also confirmed that domestic violence is emerging as a silent pandemic in Pakistan, posing a serious challenge to society and the state," it added.&nbsp;

(With inputs from agencies)

A new report by the Asian Development Bank (ADB) has put the spotlight on the rising domestic violence, including physical assault, on women in Pakistan. The report titled "Gendered Impacts of the Covid-19 Pandemic in Central and West Asia" which was seen by WION aimed at exploring the impact of the COVID-19 pandemic on women in the South Asian country while also throwing light on the ADB projects in Central and West Asia (CWA), including in Afghanistan, Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Pakistan, Tajikistan, and Uzbekistan.

A new report by the Asian Development Bank (ADB) has put the spotlight on the rising domestic violence, including physical assault, on women in Pakistan. The report titled "Gendered Impacts of the Covid-19 Pandemic in Central and West Asia" which was seen by WION aimed at exploring the impact of the COVID-19 pandemic on women in the South Asian country while also throwing light on the ADB projects in Central and West Asia (CWA), including in Afghanistan, Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Pakistan, Tajikistan, and Uzbekistan. The 64-page report detailed the "lessons learned and opportunities for gender-responsive public investment." The report which zoomed in on the state of women in the country was backed by a recent survey that laid out the shocking rise in instances of domestic violence in Punjab and Sindh province in Pakistan. The survey said that 40 per cent of women in Pakistan were inflicted with physical violence, while 46 per cent faced physical assault from spouses. "14 per cent of surveyed women knew someone in their community who was threatened with physical harm by their husband, 19 per cent knew someone who was physically assaulted by her husband, and 27 per cent knew of cases where children were beaten by their parents," the report highlighted. Also Read | Indian Navy centre's report highlights maritime security threat from drone attacks in Indian Ocean region Human rights activists in Pakistan have already labelled domestic violence instances in Pakistan as endemic. The report also cited the Gender Inequality Index, a parameter that scored the countries basis their gender parity in education, labour markets, maternal and adolescent mortality rates, and women’s parliamentary representation. The ADB report, while quoting the data in the Central and West Asia (CWA) region, said that Kazakhstan (0.9) and Armenia (0.245) ranked higher on the Gender Inequality Index while Afghanistan (0.66) and Pakistan (0.54) displayed the most gender inequality. Also Read | Israel returns 80 bodies it took from morgues and graves in Gaza for 'examination' Moreover, the maternal mortality ratio was at a stunning 140 maternal deaths out of 100,000 live births registered in 2017. The report also pointed to the gap in the economic participation between men and women in Pakistan. "Economic participation of women is relatively low compared to men in all nine countries, with an extremely wide gap in Pakistan, where only 20.6 per cent of employment-age women participate in the labour market compared with 77.7 per cent of men, as well as in Afghanistan, where 16.2 per cent of women participate in the formal labour market versus 65.6 per cent of men," as per the report. Also, in Pakistan, just 27.6 per cent of girls go to secondary school in comparison to 45.7 per cent of boys. Watch | 9 soldiers injured rescuing elderly man wounded in Hezbollah strike on church × ADB said that a review of articles on domestic violence during the pandemic "shed light on the need to change biased discourses on violence that take a masculine, hegemonic perspective, conveying the meaning that women are voiceless and lack agency." "The review of these articles also confirmed that domestic violence is emerging as a silent pandemic in Pakistan, posing a serious challenge to society and the state," it added. (With inputs from agencies)

Domestic violence in Pakistan a 'silent pandemic', 'serious challenge' to society: ADB report

Economies in Asia and the Pacific are projected to grow 4.8% this year and next year, improving on the 4.2% growth rate in 2022, according to the Asian Development Outlook (ADO) April 2023, released today.

ADB: Developing economies in Asia-Pacific to grow 4.8% in 2023 and 2024

The World Bank (WB) and the Asian Development Bank (ADB) on Tuesday lowered the growth projection for the current financial year, citing weak global conditions and higher interest rates.

World Bank, ADB project moderation in growth for current fiscal

ADB says Asia and Pacific to grow by 4.8% in 2023 & 2024

The Asian Development Bank (ADB) on Monday released the first batch of data as part of a new regional knowledge platform to guide sustainable transport development in Asia and the Pacific. The Asian Transport Outlook (ATO) will support the planning and delivery of transport sector assistance by ADB as well as transport policy and initiatives by Asian governments in line with Sustainable Development Goals (SDGs), Paris Agreement, and other international agreements.

"This first batch of information reminds us of the challenges faced by economies in Asia and the Pacific in developing the transport sector as they start to look at the period beyond Covid-19," said ADB Vice-President for Knowledge Management and Sustainable Development Bambang Susantono. 
 
"We are now getting data that detail the shortages in transport infrastructure and transport services experienced by ADB members. This will help ADB, its member governments, and other stakeholders to build back the transport sector in Asia and the Pacific in a more sustainable manner in the coming years."

The ATO collects, organizes, and shares data on the transport sector in economies using more than 400 indicators. The first batch of information includes data for 234 indicators on the status of transport infrastructure, transport activity, access and connectivity, road safety, climate change, air pollution and health as well as socio-economic conditions. The ATO will also document the institutional frameworks, policies, and financing of transport in these economies. More batches of data on the transport sector will be released in the coming months.

The ATO is developed on behalf of ADB by the Partnership on Sustainable Low Carbon Transport (SLOCAT), the leading global multi-stakeholder partnership on sustainable, low carbon transport. "The ATO will help ADB and SLOCAT in mobilizing the transport community in support of evidence-based action on transport in Asia," said SLOCAT Secretary-General Maruxa Cardena.

"The coming years will be decisive in determining whether we are meeting the objectives of the SDGs and the Paris Agreement. The manner in which the transport sector in Asia develops is key for both processes and the ATO will tell us whether we are on track." The ATO is a multi-year program with the potential to serve as a primary knowledge base on transport in Asia. To make this a reality, ADB will make ATO data freely available to all and is encouraging transport planners and policymakers to make use of it in their work.

To enhance the success of the ATO, ADB has called on all organizations working on transport in Asia to freely share their data. ADB approves about 40 transport projects per year. Over the last three years, the average combined annual commitments were in excess of five billion dollars.

The Asian Development Bank (ADB) on Monday released the first batch of data as part of a new regional knowledge platform to guide sustainable transport development in Asia and the Pacific.

The Asian Development Bank (ADB) on Monday released the first batch of data as part of a new regional knowledge platform to guide sustainable transport development in Asia and the Pacific. The Asian Transport Outlook (ATO) will support the planning and delivery of transport sector assistance by ADB as well as transport policy and initiatives by Asian governments in line with Sustainable Development Goals (SDGs), Paris Agreement, and other international agreements. "This first batch of information reminds us of the challenges faced by economies in Asia and the Pacific in developing the transport sector as they start to look at the period beyond Covid-19," said ADB Vice-President for Knowledge Management and Sustainable Development Bambang Susantono. "We are now getting data that detail the shortages in transport infrastructure and transport services experienced by ADB members. This will help ADB, its member governments, and other stakeholders to build back the transport sector in Asia and the Pacific in a more sustainable manner in the coming years." The ATO collects, organizes, and shares data on the transport sector in economies using more than 400 indicators. The first batch of information includes data for 234 indicators on the status of transport infrastructure, transport activity, access and connectivity, road safety, climate change, air pollution and health as well as socio-economic conditions. The ATO will also document the institutional frameworks, policies, and financing of transport in these economies. More batches of data on the transport sector will be released in the coming months. The ATO is developed on behalf of ADB by the Partnership on Sustainable Low Carbon Transport (SLOCAT), the leading global multi-stakeholder partnership on sustainable, low carbon transport. "The ATO will help ADB and SLOCAT in mobilizing the transport community in support of evidence-based action on transport in Asia," said SLOCAT Secretary-General Maruxa Cardena. "The coming years will be decisive in determining whether we are meeting the objectives of the SDGs and the Paris Agreement. The manner in which the transport sector in Asia develops is key for both processes and the ATO will tell us whether we are on track." The ATO is a multi-year program with the potential to serve as a primary knowledge base on transport in Asia. To make this a reality, ADB will make ATO data freely available to all and is encouraging transport planners and policymakers to make use of it in their work. To enhance the success of the ATO, ADB has called on all organizations working on transport in Asia to freely share their data. ADB approves about 40 transport projects per year. Over the last three years, the average combined annual commitments were in excess of five billion dollars.

ADB releases data to support more sustainable transport sector in Asia

Under its Asia Pacific Disaster Response Fund (APDRF) the Asian Development Bank (ADB) has approved a $3 million grant to India to&nbsp;support the government’s emergency response to the coronavirus disease (COVID-19) pandemic.

“The new grant complements ADB’s ongoing support to the Government of India in strengthening its COVID-19 response,” said ADB Director for Human and Social Development for South Asia Sungsup Ra. “This support will enhance disease surveillance and help in early detection, contact tracing, and treatment. This will be further supplemented by other public health measures.”

The grant, which is financed by the Government of Japan, will be used to procure thermal scanners and essential commodities to strengthen the Government of India’s COVID-19 response.

Meanwhile, India recorded 48,513 fresh coronavirus infections and 768 deaths linked to the highly contagious illness in the last 24 hours, which takes the country's tally to 15, 31,669 cases, the Union Health Ministry said this morning.&nbsp;

A total of 9, 88,029 patients in the country have recovered so far and 34,193 have died since the beginning of the pandemic, government data shows. Today's spike in cases comes a day after India crossed 15 lakh cases.

Maharashtra, Tamil Nadu, Delhi and Gujarat have reported the highest number of cases. However, infections are rising rapidly in states like Andhra Pradesh, Karnataka and Uttar Pradesh. Only 700 new Covid-19 cases were reported in Mumbai, while Pune recorded a spike of 2,618 cases.

Worldometer has recorded 247,233 new cases worldwide in the past 24 hours.&nbsp;

As many as 16,883,445 people around the world have been diagnosed with Covid-19. While more than 10,445,764 have recovered 662,470 have died so far.

(With inputs from agencies)&nbsp;

Under its Asia Pacific Disaster Response Fund (APDRF) the Asian Development Bank (ADB) has approved a $3 million grant to India to support the government’s emergency response to the coronavirus disease (COVID-19) pandemic.

Under its Asia Pacific Disaster Response Fund (APDRF) the Asian Development Bank (ADB) has approved a $3 million grant to India to support the government’s emergency response to the coronavirus disease (COVID-19) pandemic. “The new grant complements ADB’s ongoing support to the Government of India in strengthening its COVID-19 response,” said ADB Director for Human and Social Development for South Asia Sungsup Ra. “This support will enhance disease surveillance and help in early detection, contact tracing, and treatment. This will be further supplemented by other public health measures.” The grant, which is financed by the Government of Japan, will be used to procure thermal scanners and essential commodities to strengthen the Government of India’s COVID-19 response. Meanwhile, India recorded 48,513 fresh coronavirus infections and 768 deaths linked to the highly contagious illness in the last 24 hours, which takes the country's tally to 15, 31,669 cases, the Union Health Ministry said this morning. A total of 9, 88,029 patients in the country have recovered so far and 34,193 have died since the beginning of the pandemic, government data shows. Today's spike in cases comes a day after India crossed 15 lakh cases. Maharashtra, Tamil Nadu, Delhi and Gujarat have reported the highest number of cases. However, infections are rising rapidly in states like Andhra Pradesh, Karnataka and Uttar Pradesh. Only 700 new Covid-19 cases were reported in Mumbai, while Pune recorded a spike of 2,618 cases. Worldometer has recorded 247,233 new cases worldwide in the past 24 hours. As many as 16,883,445 people around the world have been diagnosed with Covid-19. While more than 10,445,764 have recovered 662,470 have died so far. (With inputs from agencies)

India gets $3 million booster from Asian Development Bank to ramp up combat against deadly coronavirus

The Asian Development Outlook (ADO) 2020 released in April, ADB forecasts growth of 0.1 per cent for the region in 2020.

Asian Development Bank slashes growth forecast for Asia-Pacific economies

Punjab Chief Minister Captain Amarinder Singh on Thursday announced that his government would canalise all the rivers of the state, taking technical support from the World Bank (WB) and the Asian Development Bank (ADB).

According to a press release issued from the Chief Minister's Office (CMO), Singh also announced dedicated village-relief teams in flood-affected areas in Sultanpur Lodhi and Jalandhar.

The Chief Minister also announced that each team will comprise officers of Health, Civil Supply, and Animal Husbandry Departments and they would ensure timely supply of food, medicines, and fodder for affected families.

Earlier today, Singh did an aerial survey of Nawanshahr, Ludhiana, Phillaur, Shahkot, and Lohian in the state.

In a tweet, he said, "A total of 30,000 people are impacted and crop damage reported in 108 villages. There are 14 breaches in Satluj. Considering the seriousness of the breaches, the Army's help has been sought."

In another tweet, Singh said,&nbsp;"Visited affected areas of Jalandhar and Kapurthala. Had a detailed meeting with DCs and Army officials and reviewed the rescue measures."

"Interacted with people and ensured supplies of food, water, and medicines on priority. Compensation for flood damages to be given once the water recedes," he added.

In the wake of flood situation in the state, the Punjab Chief Minister earlier today wrote to Prime Minister Narendra Modi seeking Rs 1,000 crore special relief package to compensate the losses.

The Chief Minister has also urged the Prime Minister to instruct the concerned authorities to waive off crop loans of banks or financial institutions availed by the affected farmers in the affected villages during the current cropping season.

The flooding in river Sutlej due to the discharge of water from Bhakra Dam, the heaviest since 1958, had caused extensive damage to the standing crops and inundation of residential areas in the villages, the Chief Minister said.&nbsp;

 
&nbsp;

Punjab Chief Minister Captain Amarinder Singh on Thursday announced that his government would canalise all the rivers of the state, taking technical support from the World Bank (WB) and the Asian Development Bank (ADB).

Punjab Chief Minister Captain Amarinder Singh on Thursday announced that his government would canalise all the rivers of the state, taking technical support from the World Bank (WB) and the Asian Development Bank (ADB). According to a press release issued from the Chief Minister's Office (CMO), Singh also announced dedicated village-relief teams in flood-affected areas in Sultanpur Lodhi and Jalandhar. The Chief Minister also announced that each team will comprise officers of Health, Civil Supply, and Animal Husbandry Departments and they would ensure timely supply of food, medicines, and fodder for affected families. Earlier today, Singh did an aerial survey of Nawanshahr, Ludhiana, Phillaur, Shahkot, and Lohian in the state. In a tweet, he said, "A total of 30,000 people are impacted and crop damage reported in 108 villages. There are 14 breaches in Satluj. Considering the seriousness of the breaches, the Army's help has been sought." In another tweet, Singh said, "Visited affected areas of Jalandhar and Kapurthala. Had a detailed meeting with DCs and Army officials and reviewed the rescue measures." "Interacted with people and ensured supplies of food, water, and medicines on priority. Compensation for flood damages to be given once the water recedes," he added. In the wake of flood situation in the state, the Punjab Chief Minister earlier today wrote to Prime Minister Narendra Modi seeking Rs 1,000 crore special relief package to compensate the losses. The Chief Minister has also urged the Prime Minister to instruct the concerned authorities to waive off crop loans of banks or financial institutions availed by the affected farmers in the affected villages during the current cropping season. The flooding in river Sutlej due to the discharge of water from Bhakra Dam, the heaviest since 1958, had caused extensive damage to the standing crops and inundation of residential areas in the villages, the Chief Minister said.

Punjab to canalise its rivers with technical support from World Bank, ADB

India's economy continues on a robust growth path, the Asian Development Bank (ADB) said Wednesday while maintaining the growth forecast for the current fiscal at 7.3 per cent.

However, depreciation of the rupee and volatile external financial markets pose challenges, the multilateral lending agency added, in an update of its flagship annual economic publication, the Asian Development Outlook (ADO) 2018.

Growth remains stable across most of developing Asia due to robust domestic demand, buoyant oil and gas prices and a consolidation of India's growth rebound, it said.

"But escalating trade tensions will test the region's resilience, underscoring the importance of efforts to bolster trade ties among its countries," it added.

On India, the report said its economy continues on a robust growth path. 
"Its growth forecasts are unchanged at 7.3 per cent for 2018 and 7.6 per cent for 2019 as the temporary effects of the demonetisation of large banknotes and the introduction of the national Goods and Services Tax abate as expected," it said.

The report further said the impact of the rising oil prices is offset by robust domestic demand and rising exports, particularly of manufactures.

"Depreciation of the rupee and volatile external financial markets pose challenges, as does accelerating inflation through tighter fiscal policy will help quell inflationary pressures," said the report of the Manila-based development bank.

India's economy continues on a robust growth path, the Asian Development Bank (ADB) said Wednesday while maintaining the growth forecast for the current fiscal at 7.

India's economy continues on a robust growth path, the Asian Development Bank (ADB) said Wednesday while maintaining the growth forecast for the current fiscal at 7.3 per cent. However, depreciation of the rupee and volatile external financial markets pose challenges, the multilateral lending agency added, in an update of its flagship annual economic publication, the Asian Development Outlook (ADO) 2018. Growth remains stable across most of developing Asia due to robust domestic demand, buoyant oil and gas prices and a consolidation of India's growth rebound, it said. "But escalating trade tensions will test the region's resilience, underscoring the importance of efforts to bolster trade ties among its countries," it added. On India, the report said its economy continues on a robust growth path. "Its growth forecasts are unchanged at 7.3 per cent for 2018 and 7.6 per cent for 2019 as the temporary effects of the demonetisation of large banknotes and the introduction of the national Goods and Services Tax abate as expected," it said. The report further said the impact of the rising oil prices is offset by robust domestic demand and rising exports, particularly of manufactures. "Depreciation of the rupee and volatile external financial markets pose challenges, as does accelerating inflation through tighter fiscal policy will help quell inflationary pressures," said the report of the Manila-based development bank.

India's economy continues on a robust growth path: ADB

Manila-based <a href="http://www.wionews.com/business-economy/indias-growth-set-to-be-higher-than-china-in-2018-asian-development-bank-26598">Asian Development Bank(ADB)</a> today projected India's economic growth to pick up to 7.3 per cent this fiscal.

The Bank forecasted India to grow at &nbsp7.6 per cent in 2019-20.&nbsp

Reserve Bank of India had projected the country to grow at 7.4 per cent in 2017 fiscal. The Indian economy grew 6.6 per cent in the last fiscal.

ADB said the growth will pick up as the new tax regime improves productivity and as banking reform and corporate deleveraging take hold to reverse a downtrend in investment.

"In sum, growth is forecast to pick up to 7.3 per cent in FY2018 on improved rural consumption, a modest uptick in private investment, and less drag from net exports. Urban consumption growth will remain stable, and impetus from public investment modest," ADB said.

In December, the ADB had made a similar prediction asserting that South Asia will remain the fastest growing region in Asia Pacific with India projected to grow at 7.3 per cent.

"Also set to catalyse growth are benefits from the GST as it mitigates geographic fragmentation and adds revenue to the exchequer, as well as further progress on fiscal consolidation and reform to promote FDI," the Bank added.

ADB had said India's growth would be at a lower rate of 6.7 per cent in 2017 from the previous estimate of 7.0 per cent, however, as far as China was concerned the bank had said it would grow at 6.8 per cent &nbspbut in 2018 the country could see a dip with the economy growing at 6.4 per cent. 
&nbsp

ADB said the growth will pick up as the new tax regime improves productivity and as banking reform and corporate deleveraging take hold to reverse a downtrend in investment.

Manila-based Asian Development Bank(ADB) today projected India's economic growth to pick up to 7.3 per cent this fiscal. The Bank forecasted India to grow at &nbsp7.6 per cent in 2019-20. Reserve Bank of India had projected the country to grow at 7.4 per cent in 2017 fiscal. The Indian economy grew 6.6 per cent in the last fiscal. ADB said the growth will pick up as the new tax regime improves productivity and as banking reform and corporate deleveraging take hold to reverse a downtrend in investment. "In sum, growth is forecast to pick up to 7.3 per cent in FY2018 on improved rural consumption, a modest uptick in private investment, and less drag from net exports. Urban consumption growth will remain stable, and impetus from public investment modest," ADB said. In December, the ADB had made a similar prediction asserting that South Asia will remain the fastest growing region in Asia Pacific with India projected to grow at 7.3 per cent. "Also set to catalyse growth are benefits from the GST as it mitigates geographic fragmentation and adds revenue to the exchequer, as well as further progress on fiscal consolidation and reform to promote FDI," the Bank added. ADB had said India's growth would be at a lower rate of 6.7 per cent in 2017 from the previous estimate of 7.0 per cent, however, as far as China was concerned the bank had said it would grow at 6.8 per cent &nbspbut in 2018 the country could see a dip with the economy growing at 6.4 per cent.

Indian economy to grow at 7.3 per cent this fiscal, 7.6 per cent in 2019-20: Asian Development Bank

The Asian Development Bank(ADB) in its report said South Asia will remain the fastest growing region in Asia Pacific with India projected to grow at 7.3 per cent next year, slower than ADB&#39;s pervious estimate of 7.4 per cent.

The Manila-based ADB said India&#39;s&nbsp;growth will be at a lower rate of 6.7 per cent in 2017 from previous estimate of 7.0 per cent with South Asia growing a tad slowly at 6.5 per cent from earlier forecast of 6.7 per cent this year.

The recovery in the Indian economy &ldquo;is more subdued than assumed earlier due to rising crude oil prices, soft private investment growth, and weather-related risks to agriculture,&rdquo; the ADB said.

ADB raised the growth outlook for Southeast Asia to 5.2 per cent for both this year and in 2018, higher than the September forecasts of 5.0 per cent and 5.1 per cent, respectively.

ADB said the overall growth forecast for South Asia next year would be maintained at 7.0 per cent.

On China, the ADB report said the country is projected to grow at 6.8 per cent this year which is higher than its estimate of 6.7 per cent, however, in 2018, China&#39;s growth could see a dip with the economy growing at 6.4 per cent.

&quot;Developing Asia&#39;s growth momentum, supported by recovering exports, demonstrates that openness to trade remains an essential component of inclusive economic development,&quot; ADB chief economist Yasuyuki Sawada said in a report.

The Manila-based ADB said India will growth at a lower rate of 6.7 per cent in 2017 from previous estimate of 7.0 per cent

The Asian Development Bank(ADB) in its report said South Asia will remain the fastest growing region in Asia Pacific with India projected to grow at 7.3 per cent next year, slower than ADB's pervious estimate of 7.4 per cent. The Manila-based ADB said India's growth will be at a lower rate of 6.7 per cent in 2017 from previous estimate of 7.0 per cent with South Asia growing a tad slowly at 6.5 per cent from earlier forecast of 6.7 per cent this year. The recovery in the Indian economy “is more subdued than assumed earlier due to rising crude oil prices, soft private investment growth, and weather-related risks to agriculture,” the ADB said. ADB raised the growth outlook for Southeast Asia to 5.2 per cent for both this year and in 2018, higher than the September forecasts of 5.0 per cent and 5.1 per cent, respectively. ADB said the overall growth forecast for South Asia next year would be maintained at 7.0 per cent. On China, the ADB report said the country is projected to grow at 6.8 per cent this year which is higher than its estimate of 6.7 per cent, however, in 2018, China's growth could see a dip with the economy growing at 6.4 per cent. "Developing Asia's growth momentum, supported by recovering exports, demonstrates that openness to trade remains an essential component of inclusive economic development," ADB chief economist Yasuyuki Sawada said in a report.

India's growth set to be higher than China in 2018: Asian Development Bank

The Asian Development Bank slightly lowered its 2016 growth forecast for developing Asia on Tuesday, reflecting slower-than-expected expansion in India.

Developing Asia, which groups 45 countries in the Asia-Pacific region, is now expected to expand 5.6 per cent this year, rather than 5.7 per cent, the ADB said in a supplement to its Asian Development Outlook 2016.

The ADB trimmed its 2016 growth estimate for India to 7.0 per cent from 7.4 per cent due to weak investment, agricultural slowdown and the government&#39;s recent demonetisation.

But India&#39;s growth forecast for 2017 was kept at 7.8 per cent.

The Manila-based lender kept China&#39;s growth forecasts for this year and next at 6.6 per cent and 6.4 per cent, respectively.

&quot;Asian economies continue their robust expansion in the face of global economic uncertainties,&quot; said ADB deputy chief economist Juzhong Zhuang.

&quot;Structural reforms to boost productivity, improve investment climate, and support domestic demand can help maintain growth momentum,&quot; said Zhuang.

The growth estimate for Southeast Asia was kept at 4.5 per cent for this year and 4.6 per cent in 2017, supported by strong growth in Malaysia and the Philippines.

Economies in South Asia are projected to expand by 6.6 per cent in 2016, down from the previous estimate of 6.9 per cent. For next year, growth in that region will bounce back to 7.3 per cent, the ADB said.

(Reuters)

The forecast was lowered due to weak investment, agricultural slowdown and the government's recent demonetisation

The Asian Development Bank slightly lowered its 2016 growth forecast for developing Asia on Tuesday, reflecting slower-than-expected expansion in India. Developing Asia, which groups 45 countries in the Asia-Pacific region, is now expected to expand 5.6 per cent this year, rather than 5.7 per cent, the ADB said in a supplement to its Asian Development Outlook 2016. The ADB trimmed its 2016 growth estimate for India to 7.0 per cent from 7.4 per cent due to weak investment, agricultural slowdown and the government's recent demonetisation. But India's growth forecast for 2017 was kept at 7.8 per cent. The Manila-based lender kept China's growth forecasts for this year and next at 6.6 per cent and 6.4 per cent, respectively. "Asian economies continue their robust expansion in the face of global economic uncertainties," said ADB deputy chief economist Juzhong Zhuang. "Structural reforms to boost productivity, improve investment climate, and support domestic demand can help maintain growth momentum," said Zhuang. The growth estimate for Southeast Asia was kept at 4.5 per cent for this year and 4.6 per cent in 2017, supported by strong growth in Malaysia and the Philippines. Economies in South Asia are projected to expand by 6.6 per cent in 2016, down from the previous estimate of 6.9 per cent. For next year, growth in that region will bounce back to 7.3 per cent, the ADB said. (Reuters)

Asian Development Bank trims India 2016 growth forecast to 7%

The Asian Development Bank (ADB) lowered its 2016 growth forecast for developing Asia on Monday, citing the slowing US economy and near-term shocks from Britain&#39;s decision to leave the European Union (EU). 
 
Developing Asia, which groups 45 countries in the Asia Pacific region, is now expected to expand 5.6 per cent this year, slightly weaker than a March forecast of 5.7 per cent, the ADB said in a supplement to its Asian Development Outlook 2016. 
 
The shock British vote in June to secede from the EU has chilled already tepid growth in the euro area and has shaken global financial markets. 
 
The Manila-based multi-lateral lending agency kept its 2017 growth estimate for the region at 5.7 per cent, however. 
 
&quot;Although the Brexit vote has affected developing Asia&#39;s currency and stock markets, its impact on the real economy in the short term is expected to be small,&quot; said ADB chief economist Shang-Jin Wei. 
 
&quot;However, in light of the tepid growth prospects in the major industrial economies, policy makers should remain vigilant and be prepared to respond to external shocks to ensure growth in the region remains robust.&quot; 
 
The ADB believes China is still on track to grow 6.5 per cent this year and 6.3 per cent in 2017, with government plans to cut excess industrial capacity in the world&#39;s second-largest economy expected to weigh on growth next year. 
 
China&#39;s economy expanded slightly faster than expected in the second quarter but private investment growth shrank to a record low, suggesting future weakness which could pressure the government to roll out more support measures. 
 
India&#39;s economy is still forecast to grow 7.4 per cent this year and 7.8 per cent in 2017, the ADB said. 
 
Growth forecasts for Southeast Asia were also left unchanged at 4.5 per cent this year and 4.8 per cent next year. 
 
(Reuters)

Brexit chills already tepid growth in the euro area and has shaken global financial markets

The Asian Development Bank (ADB) lowered its 2016 growth forecast for developing Asia on Monday, citing the slowing US economy and near-term shocks from Britain's decision to leave the European Union (EU). Developing Asia, which groups 45 countries in the Asia Pacific region, is now expected to expand 5.6 per cent this year, slightly weaker than a March forecast of 5.7 per cent, the ADB said in a supplement to its Asian Development Outlook 2016. The shock British vote in June to secede from the EU has chilled already tepid growth in the euro area and has shaken global financial markets. The Manila-based multi-lateral lending agency kept its 2017 growth estimate for the region at 5.7 per cent, however. "Although the Brexit vote has affected developing Asia's currency and stock markets, its impact on the real economy in the short term is expected to be small," said ADB chief economist Shang-Jin Wei. "However, in light of the tepid growth prospects in the major industrial economies, policy makers should remain vigilant and be prepared to respond to external shocks to ensure growth in the region remains robust." The ADB believes China is still on track to grow 6.5 per cent this year and 6.3 per cent in 2017, with government plans to cut excess industrial capacity in the world's second-largest economy expected to weigh on growth next year. China's economy expanded slightly faster than expected in the second quarter but private investment growth shrank to a record low, suggesting future weakness which could pressure the government to roll out more support measures. India's economy is still forecast to grow 7.4 per cent this year and 7.8 per cent in 2017, the ADB said. Growth forecasts for Southeast Asia were also left unchanged at 4.5 per cent this year and 4.8 per cent next year. (Reuters)

ADB lowers its 2016 growth forecast for developing Asia

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