Reforms will revive economy, says ADB

NEW DELHI: The recent reforms will help steer India's economy back to strong growth, which is yet to show signs of recovery, said Haruhiko Kuroda, president of Asian Development Bank ( ADB).

"Unlike China, which has shown clear signs of stabilisation from the second half of last year, there is no clear evidence yet of growth recovery in India," he said.

The ADB has projected that economic growth in fiscal 2012 will slow to 5.4% before picking up to 6.5% in 2013. Kuroda said the recent reforms will help steer the economy back to strong growth.