ADB lowers India's growth projection to 5.6 pc

India, however, can reverse the trend of falling growth by promoting economic reforms and taking steps to improve investment climate, said the ADB's Asian Development Outlook 2012 Update.

For the Asian region as a whole, the ADB Update expects the Gross Domestic Product (GDP) growth rate to drop to 6.1 per cent in 2012 from 7.2 per cent in 2011. The growth rate for the region has been projected at 6.7 per cent in 2013.

"The deceleration of the region's two giants