The UN ‘Economic and Social Survey of Asia and the Pacific (ESCAP) 2020 forecast India’s GDP for FY21 at 4.8%. It also warned that the COVID-19 pandemic is expected to result in significant adverse economic impact globally. The title of the UN report ‘Economic and Social Survey of Asia and the Pacific (ESCAP) 2020: Towards sustainable economies’.
India’s GDP growth for the fiscal year 2019-2020 was estimated at 5% and is forecast to slow down to 4.8% for the current fiscal 2020-21. Economic growth for the country could stand at 5.1% for the fiscal year 2021-22.
Important takeaways for all competitive exams:
- 24th October has been celebrated as United Nations Day since 1948.
- United Nations Headquarters in New York, USA.
- Mr Antonio Guterres of Portugal is the Secretary-General of the United Nations.