ADB lowers India's GDP growth forecast to 5.4%

The Manila-based Asian Development Bank (ADB) on Friday revised India's growth forecast lower to 5.4% in the current fiscal from the previous estimate of 5.6%, citing sluggish consumption and fragile investment sentiment. Several economists, research houses and brokerages have slashed India's growth forecast for 2012-13 due to the poor industrial performance and sluggish farm and services sector growth.

Read Full Story>>