The Asian Development Bank (ADB) has lowered India's growth projection for the financial year 2020-21 to 4% from 6.5% estimated earlier, citing weak global environment and continued efforts to contain the covid-19 outbreak in the country. “The forecast assumes that the pandemic dissipates and full economic activity resumes from the second quarter of FY2020," ADB said in its Asian Development Outlook 2020. “The COVID-19 pandemic jeopardizes global growth and India’s recovery.

Indian authorities have acted swiftly to shore up the economy hit by the pandemic. Ongoing reforms to personal and corporate taxes and measures to strengthen agriculture and the rural economy and alleviate financial sector stress will help accelerate India’s recovery,"

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

ADB slashes India growth estimate to 4% for FY21

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