The Asian Development Bank (ADB) has projected an 11 percent growth rate of the Indian economy for the current financial year. According to the bank, this growth rate will be 7 percent in the next financial year. The ADB said on Wednesday that the vaccination campaign in the country is going on vigorously, which has given a boost to the improvement in the economy. However, the bank has also said that the second wave of Corona could put the country’s economic recovery at risk.
In the Asian Development Outlook (ADO), 2021, the bank said that India’s economic growth rate is expected to be 11 percent in the current financial year ending on 31 March next year. The main reason for this is that the vaccination campaign is going on fast. But a sharp rise in corona infection cases has put the speed of recovery at risk.
The ADB has projected China’s growth rate to be 8.1 percent this year and 5.5 percent next year. The bank says that China’s export figures are very strong and domestic consumption is also increasing rapidly, which will benefit it.
The ADB says that South Asia’s growth rate is estimated to be 9.5 percent this year. During the year 2020, the economic growth rate of this region was reduced by six percent. At the same time, the growth rate of developing Asia is expected to be 7.3 percent this year. Developing Asia will benefit from healthy global growth rates and acceleration in corona vaccination. Last year, the growth rate of this area was seen as down by 0.2 percent.
According to the ADB, Asia‘s growth rate next year is expected to be 5.3 percent. The economic recovery of a large part of developing Asia is going to be good next year. It is noteworthy that ADB’s list of developing Asia has 46 countries on a geographical basis. These include Central Asia, East Asia, South, and South-East Asia, Asia-Pacific, and industrial economies.
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 has projected a growth rate of 11 per cent for the Indian economy for the current financial year. According to the bank, this growth rate will be 7 percent in the next financial year.){kind=link}