Question: With reference to the “Global Economic Prospect Report 2021” released by the World Bank Group in June 2021, consider the following statements–
(i) According to the report, the global economy is projected to grow by 5.6 percent in the year 2021.
(ii) According to this, India’s growth rate is estimated to be 8.3 percent in the year 2021.
(iii) India’s growth rate in the year 2020 was estimated at -9.6 percent.
Which of the above statement(s) is/are correct?
(a) only (i) and (ii)
(b) only (ii) and (iii)
(c) only (i) and (iii)
(d) all of the above
Answer—(a)
related facts
- “Global Economic Prospect Report 2021” released on June 2021.
- This policy report of the World Bank Group presents an estimate of the medium-term prospects of the world economic system.
Key points —-
- The world economy is experiencing an exceptionally strong but highly uneven recovery.
- Global growth is set to reach 5.6 percent in 2021—its strongest post-recession pace in 80 years—in part underpinned by steady but highly unequal vaccine access.
- Growth is concentrated in a few major economies, with most emerging market and developing economies (EMDEs) lagging behind: while about 90 percent of advanced economies are expected to regain their pre-pandemic per capita income levels by 2022, only about one-third of EMDEs are expected to do so.
- India’s growth rate is estimated to be 8.3 percent in the year 2021.
- Which is forecast to be 7.5 percent in 2022.
- Whereas in the year 2020, India’s growth rate was estimated at -7.3 percent.
By — Pankaj Pandey.