Question: By what percentage India’s Economy is projected to grow in 2021 as per the update to Trade and Development Report 2020 by UN Conference on Trade and Development (UNCTAD)?
a) 7%
b) 10%
c) 5%
d) None of the above
Ans: c
Context
- UN Conference on Trade and Development (UNCTAD) has released ‘Out of the frying pan…Into the fire?’ report which is an update to its Trade and Development Report 2020 on 18 March 2021.
Facts
- As per the report India’s economy is estimated to contract by 6.9 per cent in 2020 due to the coronavirus pandemic.
- Report also forecast a “stronger recovery” in 2021 for Indian economy and growth by 5 per cent in 2021.
- As per the report global economy is set to grow by 4.7 per cent this year, faster than the 4.3 per cent predicted in September 2020.
By kameshwar shukla