Manila, Sept. 22 -- : The Asian Development Bank (ADB) on Wednesday downgraded its 2021 economic growth outlook for India -- the subregion's largest economy -- to 10 per cent from 11 per cent in 2021.
However, it said the outlook for next year has improved to 7.5 per cent from 7 per cent.
The ADB lowered its 2021 economic growth outlook for developing Asia amid continuing concerns over the coronavirus disease (Covid-19) pandemic.
It forecasts growth of 7.1 per cent this year, according to an update of its flagship economic publication, Asian Development Outlook (ADO) 2021. That compares with a projection of 7.3 per cent in April.
The growth outlook for 2022 is raised to 5.4 per cent from 5.3 per cent. New Covid-19 variants, renewed loca...