- 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
