Indian Economy expected to grow by 5.8% in 2023 & 6.7% in 2024: UN

Indian Economy expected to grow by 5.8% in 2023 & 6.7% in 2024: UN

Daily Current Affairs   /   Indian Economy expected to grow by 5.8% in 2023 & 6.7% in 2024: UN

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Category : Business and economics Published on: May 19 2023

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  • The World Economic Situation and Prospects report released by the United Nations said that India is expected to grow by 5.8 percent in 2023 and 6.7 percent in 2024. 
  • With this, India is expected to remain the fastest-growing major economy in the world. The growth will be supported by resilient domestic demand.
  • The report said that economic growth in India is expected to remain strong while the prospects for other South Asian nations are more challenging.  
  • Since India's inflation is about 5.5 percent, India will have significant room for both fiscal expansion and monetary accommodation to support the domestic demand. 
  • The report said the world economy is projected to grow by 2.3 percent in 2023 and 2.5 percent in 2024.
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