ADB reduces India’s expected growth rate for 2021-22.

Tags: Economics/Business

• The Asian Development Bank has released its Asian Development Outlook Report   
• The Asian Development Bank (ADB) has marginally lowered its growth projection for the Indian economy to 9.7% in 2021-22, from 10% estimated in September.
• The bank cited the lower than expected 8.4% growth in the July to September quarter and expects supply chain factors such as chip shortages and rising semiconductor prices to continue to suppress growth.
• Asian Development Bank Headquarter : Mandaluyong City, Manila, Philippines
• President of ADB : Masatsugu Asakawa of Japan
• It was established in 1966.