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ADB cuts India's FY23 GDP forecast to 7.2 percent
Published on 25 Jul 2022
- Asian Development Bank (ADB) trimmed India's economic growth forecast for current fiscal year to 7.2 percent from 7.5 percent as pandemic and war impact is weighing down alongside inflationary pressures.
- It also lowered the GDP growth estimate for 2023-24 to 7.8% from the 8% estimated earlier.
- India, however, will continue to surpass China which is expected to grow by 4 per cent in 2022 as against the earlier estimate of 5 per cent. In 2023 also, China is expected to grow by 4.8 per cent.
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