The Asian Development Bank on Wednesday revised down India's economic growth forecast for the current fiscal to 10%, from 11% predicted earlier, citing the adverse impact of the second wave of the pandemic. The outbreak, however, dissipated faster than anticipated, resulting in several states easing lockdown measures and returning to more normal travel patterns. The economy is expected to rebound strongly in the remaining three quarters of FY2021, and grow by 10% in the full fiscal year before moderating to 7.5% in FY2022," said the Asian Development Outlook Update (ADOU) 2021.
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