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NEW DELHI, July 18 (Xinhua) -- The Asian Development Bank (ADB) has lowered India's gross domestic product (GDP) growth forecast to 7 percent for the current year on the back of fiscal shortfall concerns, state-run broadcaster All India Radio reported on Thursday.
In its supplement to the "Asian Development Outlook 2019", the ADB mentioned that India is expected to grow by 7 percent in 2019 and 7.2 percent in 2020, slightly slower than projected in April, it said.
In April, the Manila-based multilateral funding agency had lowered India's growth forecast for 2019 to 7.2 percent from 7.6 percent estimated previously due to moderation in global demand and likely shortfall in revenue on the domestic front.
