29-September-2022
Economy News
 
ADB cuts India’s GDP forecast for FY23 to 7pc on elevated inflation, monetary tightening
22-Sep-2022

The Asian Development Bank (ADB) on Wednesday slashed India’s GDP growth forecast for FY23 to 7 per cent from the earlier estimate of 7.2 per cent mainly on account of higher inflation and a tight monetary policy. India’s economy grew 13.5 per cent year-on-year in the first quarter of 2022-23, reflecting strong growth in services, ADB said in its second supplement to Asian Development Outlook Report 2022 (ADO 2022).

News Source:- https://www.financialexpress.com/economy/adb-cuts-indias-gdp-forecast-for-fy23-to-7pc-on-elevated-inflation-monetary-tightening/2681840/