ADB Releases Asian Development Outlook

Current Context: The Asian Development Bank (ADB) published its “Asian Development Outlook (ADO) Supplement, December 2022- Global Gloom Dims Asian Prospects”.

• In the report, the ADB downgraded the GDP growth forecast of Asia from 4.3% to 4.2% for 2022.
• It also downgraded the GDP growth forecast of Asia from 4.9% to 4.6% for 2022.
• The ADB further lowered the inflation forecast for Asia and the Pacific to 4.4% from 4.5% for 2022.
• The ADB did not change its earlier forecast regarding the GDP forecast for India and maintained it at:

1. 7% for 2022
2. 7.2% for 2023

• According to the report, the inflation rates in India were forecasted to be:

1. 6.7% for 2022
2. 5.8% for 2023

• ADB was established in 1966 with its headquarters in Metro Manila (Mandaluyong), Philippines. The current President of the organization is Masatsugu Asakawa.

Question:

Q.1 According to the ADB the GDP growth forecast for India in 2022 is?
a. 6.6%
b. 6.8%
c. 7.0%
d. 7.2%