UN ESCAP forcast India’s GDP for FY21 at 4.8%

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’.

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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.

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