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Asian Development Outlook 2022
April 19 , 2022
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- India’s GDP growth has been forecasted by the Asian Development Bank (ADB) to 7.5 percent in 2022-23 from 2021-22’s estimated 8.9 percent.
- The report has also suggested that the growth will pick up and reach 8 percent in 2023-2024.
- The Russia-Ukraine conflict has been factored in by the ADB for India.
- Due to this crisis oil prices will rise.
- The COVID-19 pandemic’s severity will also subside with the rise in the rate of vaccination.
- China is expected to grow at 5 percent in 2022-23 and by 4.8 percent in 2023-24.
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