India’s economic growth decelerate to 4 pc in FY21 due to COVID-19 pandemic: ADO 2020

India’s economic growth decelerate to 4 pc in FY21 due to COVID-19 pandemic: ADO 2020
  • Asian Development Bank (ADB) in its Asian Development Outlook (ADO) 2020 has forecasted a slowdown in Indian economic growth to 4%for the financial year 2020-21 due to the current global health emergency raised by COVID-19. For FY 21-22 it has predicted Indian economic growth to 6.2%.
  • On the region front, Asia and Pacific is expected to decline to 2.2% in FY 20-21 and then rebound to 6.2% in 2021.
  • Also, the growth in South Asiawill downgrade to 4.1% in FY 20-21 and then recover to 6% in FY 21-22.

About ADB:

  • Establishment– 1966
  • Headquarter– Philippines, Manila
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