The Manila-based Asian Development Bank (ADB) has projected the growth rate of India’s economy, in its latest flagship Asian Development Outlook (ADO) 2021, as follows:
- FY22 (2021-22): 11%
- FY23 (2022-23): 7%
ADB has based the rate on the “strong” vaccine drive being undertaken across the country, however, it has also cautioned that the recent surge in COVID cases may put the country’s economic recovery at “risk”.
Important takeaways for all competitive exams:
- President of ADB: Masatsugu Asakawa; Headquarters: Manila, Philippines.
- ADB Established: 9 December 1966.