ADB keeps India’s GDP growth unchanged at 7%

PNS|New Delhi

Asian Development Bank (ADB) has kept its outlook for India’s economic growth unchanged at 7 per cent for the current fiscal year while forecasting a weaker-than-previously expected pace for developing Asia.

ADB’s 7 per cent growth projection for fiscal 2022-23 (April 2022 to March 2023), unchanged from its September forecast, compares to 8.7 per cent GDP growth in 2021-22.For 2023-24, the GDP growth has been kept unchanged at 7.2 per cent.

The Manila-based ADB in a report on Wednesday saw Asia expanding 4.2 per cent this year before accelerating to 4.6 per cent in 2023. These projections compare to the previously estimated expansion of 4.3 per cent and 4.9 per cent, respectively.