Question : UNCTAD’s ‘Trade & Development report update, March 2021’ has stated India’s growth forecast for the year 2021 at —
(a) 5.0 %
(b) -6.9 %
(c) 4.9 %
(d) 6.8 %
Ans.(a)
Related facts
- UNCTAD’s ‘Trade & Development report update, March 2021’ has stated India’s growth forecast for the year 2021 at 5.0 %.
- The United Nations Conference on Trade and Development(UNCTAD) is a permanent intergovernmental body established by the United Nations General Assembly in 1964.
- It stated that India’s Covid-19 stimulus fell short of initial announcements, leading to a lower than expected economic performance in 2020.
- The relief measures adopted by India were not only much smaller in scale, but also centred on easing supply side constraints and providing liquidity support rather than aggregate demand support.
- UNCTAD estimates India’s GDP to have contracted 6.9% in 2020.
- World growth scinerio
- UNCTAD forecasts the world output growth in 2021 at 4.7 %.
- It is estimated at -3.9 percent at 2020.
- China’s growth projection
- In the year 2021, the growth rate of China is forecasted to be 8.1 percent.
- Whereas for the year 2020 it is estimated at 2.3%, highest among major economies.
By — Pankaj Pandey.
Link:
https://economictimes.indiatimes.com/news/economy/indicators/unctad-sees-india-growth-at-5-in-2021/articleshow/81575631.cms
https://unctad.org/system/files/official-document/gdsinf2021d1_en.pdf