United Nations Organization (UN) has reduced India’s GDP growth estimate. This has shocked the central government. The United Nations said that India’s economic growth rate will be 5.7 percent in the current financial year. Earlier, many international agencies such as the World Bank have lowered India’s GDP growth estimates. Last year, the UN had projected a GDP growth of 7.6 per cent in FY 2019-20. The Central Statistics Office (CSO) of the Government of India and the World Bank have projected an estimated GDP growth of only 5 per cent.
A United Nations study has reported that the GDP (GDP) growth rate in some other emerging countries may accelerate somewhat this year. The United Nations said this after the global economic growth rate was the lowest at 2.3 percent last year. According to the United Nations World Economic Conditions and Prospects (WESP), 2020 is expected to increase by 2.5 percent in 2020 but things could derail due to increasing trade tensions, financial constraints or geopolitical tensions. Regarding India, the report said that the economic growth rate in the current financial year can be 5.7 percent.
UN reduces India’s growth forecast to 5.7% in FY 2020
