The investment is ADB's first transaction in India since the launch of its $1.5 billion Leading Asia Private Infrastructure Fund 2 (LEAP 2) in December 2023.
ADB report notes that these crops have a ‘high potential’ to double farmers’ incomes and create opportunities for public-private partnerships and investments.
In April, ADB had projected a growth rate of 11% in 2021-22 for India. Meanwhile, RBI also trimmed the country's growth projection by a similar margin to 9.5% in June this year.
ADB also raised the inflation forecast for India in FY2021 by 0.3% points to 5.5% while keeping the forecast for FY2022 at 4.8% as both food and fuel inflation outpaced expectations.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
COMMENTS