Asian Development Bank cuts India's GDP growth projection for 2022-23

New Delhi [India], July 22 (ANI): The Asian Development Bank has reduced India's Gross Domestic Product estimate for the current financial year 2022-23 to 7.2 per cent from its earlier projection of 7.5 per cent, citing higher-than-expected inflation will erode consumers' purchasing power.

"India's GDP growth moderated to 4.1 per cent in Q4 of the fiscal year 2021 (FY2021, ended 31 March 2022) on disappointing growth in p