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India's GDP to fall by 5.7% in 2022, further decline in 2023: UNCTAD

Category : Business and economics
Published on: October 05 2022 Share on facebook

  • As per top UN agency UNCTAD Projection India's economic growth is expected to decline to 5.7 per cent this year from 8.2 per cent in 2021.
  • India's GDP will further decelerate to 4.7 per cent growth in 2023, according to the forecast by the United Nations Conference on Trade and Development (UNCTAD) Trade and Development Report 2022.
  • It’s way lower than Moody’s latest forecast of 7.7% for the calendar year 2022. 
  • Various other agencies have projected India’s growth to be in the range of 6.7% to 7.4% in FY23. 
  • The RBI last week cut its FY23 real growth forecast for the country by 20 basis points to 7%.
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