According to the recent report of the Asian Development Bank (ADB), what will be the growth rate of India in the current fiscal year?

Question

Manila-based Asian Development Bank released its annual economic publication- Asian Development Outlook (ADO) 2020 recently. As per the report, India’s growth is to slow down to 4%, from the earlier estimate of 5% in the current fiscal year.
Weak global demand and the containment efforts of the government amid Covid-19 are cited as the reasons for the slash. The report also estimates the country’s gross domestic product (GDP) to grow at 6.2% in FY22 provided full economic activity resumes from the second quarter of FY21.

GKToday Admin · Accepted Answer

4.0% Manila-based Asian Development Bank released its annual economic publication- Asian Development Outlook (ADO) 2020 recently. As per the report, India’s growth is to slow down to 4%, from the earlier estimate of 5% in the current fiscal year.
Weak global demand and the containment efforts of the government amid Covid-19 are cited as the reasons for the slash. The report also estimates the country’s gross domestic product (GDP) to grow at 6.2% in FY22 provided full economic activity resumes from the second quarter of FY21.

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