ADB cuts India’s 2021-22 growth forecast to 10%

• Integrity Education, Delhi
• 22, Sep 2021

• The Asian Development Bank has cut its forecast for India’s GDP growth in 202122 to 10%, from 11% projected earlier.
• The ADB also sees rising input costs fuelling inflation to a faster 5.5% pace, than the 5.2% previously estimated.
• The primary risks are centred around the pandemic
• ADB’s outlook is a ‘bit optimistic’ compared to the Reserve Bank of India, which now expects 9.5% growth this year.

About Asian Development Bank

• ADB is a regional development bank established on 19 December 1966 headquartered in Mandaluyong, Manila (Philippines).
• ADB envisions a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty in the region.
• The highest policy-making body of the bank is the Board of Governors, composed of one representative from each member state. 
• Voting Rights: votes are distributed in proportion with members' capital subscriptions.
• Japan and the United States each hold the largest proportion of shares at 15.571%. 
• China holds 6.429%, India holds 6.317%, and Australia holds 5.773%.