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UN WESP: India’s Economy Is Projected To Grow 7.6% In 2018-19 Details About
UN WESP: India’s Economy Is Projected To Grow 7.6% In 2018-19: Details, About
As per the UN World Economic Situation and Prospects (WESP) report, India’s economy is projected to grow 7.6% in the fiscal year 2018-19, making it fastest growing economy in the world.
India’s GDP growth is expected to be as 7.5% and 7.6% in fiscal years 2017-18 and 2018-19 respectively. This is a substantial recovery from 6.7% growth India registered in the fiscal year 2017.
The world economy is projected to reach 3.2% both in 2018 and 2019, an upward revision by 0.2 and 0.1%, respectively. Global GDP is expected to expand.
Growth in India is gaining momentum, underpinned by robust private consumption, slightly more supportive fiscal stance and benefits from past reforms.
Although capital spending in India has shown signs of revival, more widespread and sustained recovery in private investment remains a crucial challenge in India.
UN World Economic Situation and Prospects (WESP)
The report released is a joint effort of UN Department of Economic and Social Affairs (UN/DESA), UN Conference on Trade and Development (UNCTAD) and five United Nations regional commissions.
