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Asian Development Bank projects India’s GDP at -9% in FY21

Sumit Arora Published On September 16th, 2020 Leave a comment

The Asian Development Bank (ADB) has estimated that the GDP of India is expected to contract by 9% in fiscal 2020-21 (FY21). This estimate is worse than ADB’s previous estimate of -4%.

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However, for the FY22 (2021-22), ADB expects India’s GDP at 8 per cent. ADB also expects the gross domestic product (GDP) growth for developing Asia at – 0.7 per cent in 2020, the first negative economic growth since 1962.

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Sumit Arora

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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.