What is the current India’s economic growth forecast for FY 17, as per updated report “Asian Development Outlook 2016” of Asian Development Bank (ADB)?
[A]7.4%
[B]7.2%
[C]6.9%
[D]7.0%

7.0%
The Asian Development Bank (ADB) has cut India’s economic growth forecast to 7.0% from 7.4% for the financial year 2016-17 in the updated report of Asian Development Outlook 2016 due to weak investments, a slowdown in the country’s agriculture sector and the lack of available cash due to the government’s decision to ban high-denomination bank notes. Prior to this, the Reserve Bank of India (RBI) cut India’s growth forecast to 7.1% from 7.6% for FY 17 after the government’s decision to ban high denomination bank notes. Beside this, Global rating agency Fitch has downgraded India’s growth forecast to 6.9% from 7.4 % and rating agency Morgan Stanley has also cut the estimates to 7.3% from 7.6% for FY 17.