ADB sees 8.2% growth till 2007

The Asian Development Bank (ADB) has offered up to $6.47 billion in assistance to India to help it maintain its growth momentum over the next three years.

"The Indian economy, which registered a growth of 8.2 per cent in 2003-04 as a result of nearly 15 years of reforms, is now one of the world's fastest growing economies. This high growth is likely to be sustained over the next three years, unless there are major shocks," ADB said.

ADB has decided to offer $6.47 billion during the 2005-07 period or $2.1 billion annually, as part of its three-year Country-specific Strategy and Programme (CSP).

The Bank is of the view that the loan will help India reach the Millennium Development Goals. However, it cautioned against "large inter-regional disparities and persistent social exclusion" in its CSP update.