As per the report by the United Nations, India’s economy is projected to grow at 7.1% in the fiscal year 2020 on the back of strong domestic consumption and investment. Indian economy expanded by 7.2% in 2018.
According to the report, GDP growth is a downward revision from the 7.4% estimated in January 2019. The World Economic Situation and Prospects (WESP) 2019 Mid-year Update noted that growth projections for 2019 have been revised downward in all major developed economies.
Source- News on AIR
Static/Current Takeaways Important For LIC AAO Mains 2019:
- United Nations Headquarters in New York, USA.
- It was founded on 24 October 1945.
- Mr Antonio Guterres of Portugal is the Secretary-General of the United Nations.