The United Nations Department of Economic and Social Affairs (UN-DESA) in its ‘World Economic Situation and Prospects (WESP) Mid-year Update 2022’ report has declined India’s GDP (Gross Domestic Product) growth projections from 6.7% to 6.4% for 2022-23. For 2023-24, 6% GDP growth is forecasted for India as against 6.1%. In 2021, India’s economy grew at 8.8%. The growth outlook for South Asia is also downgraded by 0.4 percentage points to 5.5% in 2022.
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