Asian Development Bank upgrades India’s GDP growth forecast for FY25 to 7%
ADB citied robust public and private investments and strong services sector for the revised number.
Finance Minister Arun Jaitley has cancelled his attendance at the Asian Development Bank's annual meeting here because of pressing domestic engagements back home.
Jaitley, who also holds the additional charge of defence minister, is however scheduled to travel to Tokyo this weekend seeking Japanese investment into India. He was scheduled to attend ADB's 50th annual meeting here fromMay 4-7.
Official sources said Jaitley will not be attending the meet, but did not give any reasons for the same. It is understood that the move may be linked to the mutilation of bodies of two Indian soldiers by Pakistani troops.
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An “outraged” India today summoned Pakistani High Commissioner Abdul Basit and demanded action against those responsible for the act.
Economic Affairs Secretary Shaktikanta Das will fill in for Jaitley for the ADB event.
Finance ministers and central bank governors of member nations are slated to attend the annual meet that is being held under the theme 'Building Together the Prosperity of Asia' with focus on the region's growing need for infrastructure as a critical component for achieving sustainable and inclusive development.
Discussions at the meet will centre on urban challenges and strive for clean and climate-resilient development, according to an ADB statement.
The sources said Jaitley is now scheduled to arrive in Tokyo on May 6 and will meet with CEOs of Japanese companies, besides Japanese leadership.
During his visit, he will address investors and an interactive session on India's Business Environment: Reforms and Opportunities.
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