Asian Development Bank on Wednesday called India's target of eight per cent annual economic growth "ambitious".

"The eight per cent growth target looks ambitious and quite challenging," Yoshiro Iwasaki, director-general of the ADB's South Asia Development Corp, told reporters in New Delhi, referring to the target set in India's latest five-year economic plan.

He added that the country's 10 per cent combined fiscal deficit -- which embraces the federal government and the states -- was "certainly high".