Asian Development Bank, ADB, has upgraded India's economic growth forecast to 6.3 per cent in 2015-16 on hopes of speedy reform process.

The multilateral funding agency, however, has retained its forecast as 5.5 per cent growth in India this year. In a release, it said expansion in the sub-region is expected to reach 5.4 per cent in 2014 and pick up to 6.1 per cent in 2015.