Asian Development Bank projected India’s Gross Domestic Product (GDP) to rebound strongly by 11 percent in fiscal year 2021 ending on 31st March, 2022 due to continued economic recovery boosted by increased public investment, vaccine rollout and a surge in public demand.
In its latest flagship economic publication, Asian Development Outlook (ADO) 2021, Asian Development Bank forecast India’s economic growth to moderate to 7 percent in FY 2022 as base effects disappear. The economy is expected to have contracted by 8 percent in FY 2020 in line with the government’s second advance estimate.
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Surbhi Saxena edits the daily Current Affairs News.
The author is qualified member of The Institute of Company Secretaries of India (ICSI).