Developing Asia is forecast to grow 4.8% in 2023, the ADB said in its Asian Development Outlook report, more than its previous estimate of 4.6% in December.
In a meeting with PM Modi, the ADB president announced the 'multifaceted' support for the country over 5 years for an infrastructural push, including a connectivity plan among others.
A blog post on AsiaA blog post on Asian Development Bank says diaspora can help fund developmental projects. It adds that for this, the country should make policies to earn the diaspora’s trust.n Development Bank says diaspora can help fund developmental projects. It adds that for this, the country should make policies to earn the diaspora’s trust.
Last week, Fitch Ratings had slashed the country's GDP projection to 7% for current fiscal year citing elevated inflationary levels and higher interest rates.
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.
Ashok Lavasa was next in line to be Chief Election Commission. He had courted controversy for dissenting against clean chits to Modi & Shah in 2019 Lok Sabha polls.
Commending India's pandemic response, ADB President Masatsugu Asakawa assured immediate assistance to the health sector and help to alleviate the pandemic's economic impact on the poor.
The reach and impact of influencers are so significant that even politicians such as Prime Minister Narendra Modi have recognised their value—the National Creators Award is proof.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
Both the governments expressed their commitment to strengthening their maritime cooperation to strengthen the maritime safety and security framework in the region.
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