India to grow at 7.1% in FY’20: United Nations’ Report

Question: What is the growth rate forecasted by United Nations for India in financial year 2020?
(a) 7.1%
(b) 7.2%
(c) 7.4%
(d) 7.3%
Answer: (a)
Related facts:

  • According to a report by United Nations, India’s economy is projected to grow at 7% in 2019 and 7.1% in the fiscal year 2020 on the back of strong domestic consumption and investment.
  • However, India’s growth rate for year 2018 was evaluated to 7.2% facing downward revision from the earlier 7.4% estimated in January this year due to GDP’s downward growth.
  • The updated estimates for India, however, reflect a downward revision from the projections made in the World Economic Situation and Prospects 2019 report released in January this year. That report had estimated 7.6% growth rate in the fiscal year 2019 and 7.4 per cent in 2020.
  • Report affirms that despite of weakened growth of many developing economies, India remains strong amid robust domestic demand.

Links:
http://www.newsonair.com/News?title=India-to-grow-at-7.1%25-in-FY%26%2339%3b20%3a-United-Nations%26%2339%3b-report&id=363766