Asian Development Outlook (ADO)- 2022

Highlights:

• India’s GDP growth has been forecasted by the Asian Development Bank (ADB) to 7.5% in 2022-23 from 2021-22’s estimated 8.9 %. 
• The report has also suggested that the growth will pick up and reach 8 % in 2023-2024.
• The Russia-Ukraine conflict’s implications have been factored in by the ADB for India.
• Due to this crisis oil prices will rise.
• The COVID-19 pandemic’s severity will also subside with the rise in the rate of vaccination.
• China is expected to grow at 5 % in 2022-23 and by 4.8 %  in 2023-24.
• The efficiency of India’s logistics infrastructure, generation of jobs in construction, crowd-in private investment, and sustainable growth will increase due to higher public capital spending. 
• ADB has emphasized that India’s economic activity this year will be dependent on public investment. 
• The capacity utilisation rates of the country will improve in the first half of 2022-23. 
• This will create room for more investments.