Categories: Economy

ADB projected India’s economic growth forecast at 10% in FY22

The Asian Development Bank (ADB) has downgraded India’s economic growth forecast for the financial year 2021-22 (FY22) to 10 per cent, in its Asian Development Outlook (ADO) Supplement for July. Earlier this was estimated at 11%.

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The multilateral funding agency has lowered the GDP growth forecast on account of the adverse impact of the coronavirus pandemic. Further, ADB has projected the GDP growth rate for FY2022 (2022-23) to 7.5 per cent from the earlier projection of 7 per cent.

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Sumit Arora

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.