UN projects India GDP at 6.5% in FY22

UN projects India GDP at 6.5% in FY22

Daily Current Affairs   /   UN projects India GDP at 6.5% in FY22

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Category : Business and economics Published on: January 15 2022

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  • The GDP growth forecast of India in fiscal 2022 is estimated to grow at 6.5 per cent as per the United Nations World Economic Situation and Prospects (WESP) 2022 report. 
  • Earlier this was estimated at 8.4%. 
  • The WESP is a flagship report produced by the UN Department of Economic and Social Affairs (UN-DESA). 
  • UN has projected the growth rate for fiscal 2023 (FY 2022-2023) at 5.9 per cent.

Important Takeaways

About GDP

  • The total monetary or market worth of all finished goods and services produced inside a country's borders in a certain time period is known as GDP.
  • GDP is usually estimated on a yearly basis, although it can also be calculated quarterly.
  • GDP can be computed in three different ways: expenditures, output, and incomes. It can be modified for inflation and population to give you a more accurate picture.
  • GDP is an important tool for policymakers, investors, and enterprises to use when making strategic decisions, despite its shortcomings.
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