ADB projects India's economy to grow by 7.5% in FY23

Daily Current Affairs / ADB projects India's economy to grow by 7.5% in FY23

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Category : Business and economics Published on: April 08 2022

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The Asian Development Bank has projected India's economy to grow at 7.5% in the year 2023.
Asian Development Bank projected a seven percent collective growth for South Asian economies in 2022 with the subregion's largest economy India growing by 7.5 per cent in the current fiscal year before picking up to eight per cent the next year.
The reason for this estimate is the projection factor into the impact of the Russian invasion of Ukraine which can largely be felt indirectly through higher oil prices.