Asian Development Bank has trimmed its 2021 growth forecast for India to 9.7 per cent from 10 per cent but left the 2022 growth forecast unchanged at 7.5 per cent. The inflation forecast of developing Asia was revised to 2.1 per cent for 2021 and unchanged at 7 per cent for 2022.
Asian Development Outlook Supplement Report 2021-22:
- In its Asian Development Outlook Supplement Report of December 2021, the Asian Development Bank (ADB) has trimmed the growth forecasts for developing Asia for 2021-2022 to reflect the economic impact and uncertainty caused by the new Omicron COVID -19 variant.
- ADB marks the 2021 Gross Domestic Product (GDP) growth projection of developing Asia to 7 per cent, down from its earlier projection of 7.1 per cent (September 2021), and 2022 growth to 5.3 per cent, down from 5.4 per cent.