Question: According to the recent report released by the UN, the World Economic Situation and Prospects (WESP) Mid-term 2018, what percentage of India’s GDP growth is expected to be in 2018-19?
(a) 7.6 percent
(b) 7.0 percent
(c) 7.2 percent
(d) 8.2 percent
Answer: (a)
Related Facts:
- On May 17th, 2018, the United Nations published the mid-term update report of ‘World Economic Situation and Prospects’ (WESP) -2018.
- According to this report, the estimated GDP of India is expected to remain 7.6 percent in 2018-19.
- While it is estimated to be 7.5 percent in 2017-18.
- It has been said in the report that due to the increase in private consumption and reforms made in the past, India’s growth rate will continue to rise, but the challenge of recovery in private investment can continue.
- According to the report, the Indian economy confirms the best recovery.
- In the last financial year, India’s growth rate was 6.7 percent.
- According to the report, India’s growth rate among the major economies will be faster.
- China’s growth rate is expected to be 6.9 percent in 2017 and 6.5 percent in 2018.
- In the report, the growth rate of the global economy in the year 2018-19 is 3.2 percent.
- In 2019 China’s GDP growth is forecast to be 6.3 percent.
Reference:
https://www.un.org/development/desa/publications/world-economic-situation-and-prospects-as-of-mid-2018.html
https://www.un.org/development/desa/dpad/wp-content/uploads/sites/45/WESP_2018_Mid-year_Update.pdf
https://www.un.org/development/desa/dpad/wp-content/uploads/sites/45/WESP_mid-2018_Press_Release_E.pdf