ADB Downgrades India's Economic Projection To 10% For 2021

The Asian Development Bank (ADB) lowered India's economic growth forecast to 10 per cent from 11 per cent for 2021- down by one percentage point, following the severe second wave of COVID-19 pandemic in the country. In its latest economic outlook report, the multilateral funding agency said that the spike in the number of COVID-19 cases during the second wave of the pandemic affected economic recovery.