ADB cuts estimates, India's economic growth rate could now be 10%

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New delhi date. Wednesday 22 September 2021

The Asian Development Bank (ADB) has slashed the country's economic growth forecast for the current financial year to 10 per cent due to losses from the second wave of the Koro epidemic in India, up from 11 per cent previously raised by the ADB.

The ADB said in its latest economic scenario on Wednesday that India's growth forecast for FY2021 has been revised. In May this year, an additional reason was given in the case of Kovid-19.

The transition, however, was more rapid than expected, the ADB said. As a result, some states delayed the lockdown and the situation became increasingly normal. Yet the country has suffered a setback on the economic front. Which may cause a slight decline in the growth rate.

The Asian Development Scenario Update (ADOU) 2021 states, “The economy is expected to grow at a rate of 10 per cent for the remaining three quarters of FY21, compared to 7.5 per cent in FY2022. Can.

Earlier in April, the ADB had projected a growth rate of 11 percent for the current fiscal year. According to the Asian Development Bank (ADB), despite a long recovery in domestic consumption, China's growth rate will be stronger than India's.

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