Indian economy forecasts 9% growth in 2020-21: ADB

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New Delhi, 15 September 2020 Tuesday

The Asian Development Bank (ADB) has projected a 9 per cent growth in the Indian economy in the current financial year 2020-21. The Asian Development Scenario (ADO) 2020 update released by the ADB on Tuesday said that economic activities in India have been badly affected by the Corona virus. Which also has an impact on consumer demand. This will see a 9 per cent decline in GDP in the current financial year.

However, ADB estimates that the Indian economy will rebound in the next financial year 2020-21. ADB said India's economic growth rate will be 8 per cent in the next financial year with the resumption of trade and business activities.

ADB chief economist Yasuyuki Savada said India had imposed a strict lockdown to curb the spread of the epidemic. Which adversely affected economic activities. He said the area of ​​epidemic control measures, testing, monitoring and treatment capacity is important for the growth of the economy in the next financial year and beyond. These measures need to be implemented effectively. Only then will the economy come out of the problem going forward.

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