UN projects India GDP at 6.5% in FY22

• 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.