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Searched Tag: asian development bank adb

India's working age population to rise by 2040, says ADB

August 3, 2024, 05:40 PM - 2 min read

The data features that India’s share of working-age population in 2011 is 60% which is expected to rise by 65% by 2030 however will slightly decline hitherto from 65.1% to 64.9% in 2036.

ADB open to funding space sector in India, says VP Bhargav Dasgupta

May 3, 2024, 04:46 PM - 2 min read

ADB's Vice President Bhargav Dasgupta announced the bank's readiness to fund India's space sector alongside its climate finance focus. While ADB has undertaken satellite projects in the Asia Pacific, it has yet to assist India's space sector.

ADB report signals troubling times ahead for Pakistan's economy

April 14, 2024, 08:07 AM - 2 min read

A report by the ADB has maintained that living cost in Pakistan is the highest in Asia with at least 25% inflation rate and an economic growth pace, expected to grow at a meagre 1.9 %, which is the fourth lowest in the region.

The Asian Development Bank (ADB) has sounded the alarm regarding Sri Lanka's economic future, citing the looming uncertainty surrounding the upcoming elections as a potential catalyst for a downward trend.

Elections could hinder Sri Lanka's economic growth: ADB

April 12, 2024, 06:31 PM - 2 min read

"Inflation decelerated in single digits last year following a peak in 2022 and will remain below 10 per cent in 2024 and 2025. Challenges remain, and the upcoming electoral cycle must not delay the reforms required to address the recent economic crisis. Sri Lanka needs to address vulnerability to poverty to ensure inclusive growth," the ADB report cautioned.

The Asian Development Bank (ADB) has revised India's GDP growth forecast upward for the current fiscal year to 7 per cent, up from the previous estimate of 6.7 per cent.

Asian Development Bank raises India's GDP growth forecast to 7.2% for FY25

April 12, 2024, 01:24 PM - 2 min read

The Reserve Bank of India (RBI) resonates with ADB's growth projections for the current fiscal year, foreseeing a GDP growth rate of 7 per cent. This optimism is fueled by expectations of a normal monsoon, easing inflationary pressures, and sustained momentum in manufacturing and services sectors. Factors such as increased capital expenditure on infrastructure, private corporate investment, and a robust service sector are anticipated to drive growth in FY2024.

Finance Minister Nirmala Sitharaman on Monday met Asian Development Bank’s new Vice-President (market solutions) Bhargav Dasgupta and discussed ways to further the development agenda.

FM meets ADB vice president, urges ADB to become partner in development agenda

March 19, 2024, 11:42 AM - 2 min read

In a social media post, the finance ministry disclosed that both parties exchanged insights on potential partnerships between ADB and India to drive socio-economic progress.