The recent growth number for the second fiscal quarter, has put a dent on the optimism towards India as experts question what lies ahead.

The Asian Development Bank has lowered India's economic growth forecast for the current financial year to 6.5% from 7%, citing weaker private investment and housing demand. The bank also revised its growth forecast for the next fiscal year.

India's economy is expected to have slowed in the July-September quarter, growing at the slowest pace in 18 months, weighed down by weak urban consumption following a rise in food prices despite an increase in government spending.

The Reserve Bank of India has held interest rate steady since February last year, while a sharper-than-anticipated slowdown in India’s growth has made RBI’s task tougher.

The Asian Development Bank (ADB) on Wednesday lowered India's economic growth forecast to 6.5% for the current financial year due to lower-than-expected growth in private investment and housing demand.

The Asian Development Bank (ADB) on Wednesday lowered India's economic growth forecast to 6.5 per cent for the current financial year from its earlier estimate of 7 per cent due to lower-than-expected growth in private investment and housing demand.

The Asian Development Bank (ADB) lowered India's 2024-25 growth forecast to 6.5% from 7% due to weaker private investment and housing demand. ADB also lowered India's 2025-26 forecast to 7% from 7.2%.