india gdp growth, Asian Development Bank underestimates India! – Asian development bank cuts Indian economic growth forecast for this fy

In 2020, India’s economic growth came to a standstill after the Corona crisis. India suffered its worst recession ever. However, due to the corona vaccination program and lockdown measures, the growth started to increase again. The report released by the Reserve Bank was also high on India’s growth.

Meanwhile, the Asian Development Bank (ADB) has downgraded India’s economic growth forecast for the current financial year. In a recent report, the Asian Development Bank has said that India will have a growth of only 7 percent this fiscal year. Earlier, the report published by the Asian Development Bank had said that there would be 7.2 percent growth, but now it has been reduced.

At the beginning of the current financial year, i.e. in the April-June quarter, India’s economic growth was estimated at 13.5 percent. But the growth remains sluggish on a full-year basis. The Asian Development Bank has also released economic growth estimates for countries including China and not just India. For China, only 3.3 percent growth is expected in 2022. An earlier report had said that China would have a 5 percent growth.