Asian development bank

Asian development bank

Asian development bank projected India’s growth rate rebound to 11%

Asian development bank
Two minute reads :

The Asian Development Bank has projected that India’s growth rate will rebound to 11% from 8% the Fiscal year 2021.

  • It will be because of the economic recovery led by the vaccine rollout and the increased public investment.
  • It has projected inflation to moderate to 5.2% in FY22 after rising by 6.2% in FY21.
  • Asian Development Bank cautioned, the surge in Covid – 19 cases may put the country’s economic recovery at risk.
  • Asia’s economic activity is expected to grow 7.7 % this year and 5.6 % in 2022.
  • South Asia’s GDP growth is expected to rebound to 9.5% following a 6% contraction in 2020.
  • The economic growth in developing Asia is set to rebound to 7.3% this year supported by healthy global recovery.
  • The projected resurgence follows a 0.2% contraction last year.
  • India had faced the worst economic contractions in 2020 due to the pandemic.
  • It has assumed that the second wave of the Covid – 19 pandemic is contained, and vaccines are deployed extensively across the country.
Asian development bank

Important takeaways of Asian development bank :

  • Formation : 19 December, 1966
  • Headquarters : Philippines
  • President : Masatsugu Asakawa
  • Type : Multilateral Development Bank
Asian development bank
Reference :

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