ADB cuts India’s GDP forecast for FY22 to 10%

ADB cuts India’s GDP forecast for FY22 to 10%

• The Asian Development Bank (ADB) has revised downwards India’s economic growth forecast for the current fiscal, 2021-22 (FY22) to 10 percent. Earlier this was projected at 11 percent.
• The Manila-based multilateral funding agency ADB has predicted the GDP growth for fiscal 2022-23 (FY23) to 7.5 percent.

Points to Remember:

1. GDP Growth rate of India in FY22 as per ADB? 10%
2. GDP Growth rate of India in FY23 as per ADB? 7.5%

Source: Business Standard