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, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.