ADB projected growth forecast for 2021-2022 for India at 9.7%

Asian Development Bank has trimmed its 2021 growth forecast for India to 9.7% from 10% but left the 2022 growth forecast unchanged at 7.5%. The inflation forecast of developing Asia was revised to 2.1%  for 2021 and unchanged at 7% for 2022.

Asian Development Outlook Supplement Report 2021-22:

In its Asian Development Outlook Supplement Report of December 2021, the Asian Development Bank (ADB) has trimmed the growth forecasts for developing Asia for 2021-2022 to reflect the economic impact and uncertainty caused by the new Omicron COVID -19 variant.

ADB marks the 2021 Gross Domestic Product (GDP) growth projection of developing Asia to 7%, down from its earlier projection of 7.1% (September 2021), and 2022 growth to 5.3%, down from 5.4%.