The UN expect Indian economy to grow by 6.5% in 2022

Tags: Economics/Business

The United Nation World Economic Situation and Prospect (WESP) 2022 report said that India's GDP is forecast to grow at 6.5 per cent in fiscal year 2022, a contraction from the estimated growth of 8.4 per cent in fiscal year 2021.

•  It expect the growth to further slow down to 5.9 per cent in the financial year 2023,
• The report said that the global economic recovery is facing significant challenges  amid new waves of COVID-19 infections, persistent labour market challenges, lingering supply-chain challenges and rising inflationary pressures. 
• After expanding by 5.5 percent in 2021, the global economic growth is projected to grow by only 4.0 percent in 2022 and 3.5 percent in 2023.