Home » ADB cuts India’s GDP forecast for...

ADB cuts India’s GDP forecast for FY22 to 10%

Sumit Arora Published On September 23rd, 2021 Leave a comment

The Asian Development Bank (ADB) has revised downwards India’s economic growth forecast for the current fiscal, 2021-22 (FY22) to 10 per cent. Earlier this was projected at 11 per cent. The Manila-based multilateral funding agency ADB has predicted the GDP growth for fiscal 2022-23 (FY23) to 7.5 per cent.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

The growth forecast for India in the fiscal year 2021 (ending in March 2022) was revised down, as the spike in COVID-19 cases during May dented the recovery, the Asian Development Bank (ADB).

Important takeaways for all competitive exams:

President of ADB: Masatsugu Asakawa; Headquarters: Manila, Philippines.

Find More News on Economy Here

About the Author

Sumit Arora

Author

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.