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Asian Development Outlook (ADO) 2021

Asian Development Outlook (ADO) 2021:

According to the report Asian Development Outlook (ADO) 2021, the second wave of Covid-19 can put India’s economic recovery at “risk”.

  • ADO is a series of annual economic reports on the Developing Member Countries (DMCs) of the Asian Development Bank (ADB).

GDP Projections:

For India:

  • Gross Domestic Product (GDP) will rebound strongly by 11% in Fiscal Year (FY) 2021-22 due to continued economic recovery boosted by increased public investment, vaccine rollout, and a surge in domestic demand.
  • India’s economic growth to moderate to 7% in FY 2022-23.
  • The economy is expected to have contracted by 8% in FY 2020-21 in line with the government’s second advance estimate.

For Developing Asia:

  • The economic growth is set to rebound to 7.3% in 2021-22. This follows a 0.2% contraction last year.
  • Developing Asia comprises 46 members of the ADB list on the basis of the geographic group.
  • These include newly industrialized economies, countries in Central Asia, East Asia, South Asia, Southeast Asia, and the Pacific.
  • India is also part of Developing Asia.