ADB cuts India's GDP growth estimate to 9.7% for 2021-22

The Asian Development Bank (ADB) has cut India's GDP growth forecast for 2021-22 to 9.7% from its previous estimate of 10%. This is the second time in three months that the bank has scaled down India's growth estimate. "The reduction...comes amid supply chain issues that are affecting industry," the Manila-based multilateral development bank said in its latest supplement.