India’s growth projected at 7%; govt spending, agriculture to boost economy: ADB report

India’s growth forecast for the current fiscal has been projected at 7 per cent by the Asian Development Bank (ADB) on Wednesday which said better farm output and higher government spending will boost economic activity. In its Asian Development Outlook (ADO) update of September, the ADB said exports in the current fiscal will be higher than earlier projected, led by larger services exports. However, merchandise export growth will be relatively muted through the next fiscal.