ADB cuts India’s growth projection to 5.6%, sees China soft landing

Asian Development Bank (ADB) on Wednesday lowered India’s growth forecast for the current fiscal to 5.6 per cent, from 7 per cent projected earlier, citing falling global demand and impact of delayed monsoon on agricultural production. India, however, can reverse the trend of falling growth by promoting economic reforms and taking steps to improve investment climate, said the ADB’s Asian Development Outlook 2012 Update.

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