UNCTAD projects India’s GDP to grow 5% in 2021

The UN Conference on Trade and Development (UNCTAD) has projected India’s economy to contract by 6.9 per cent in 2020 due to the coronavirus pandemic, is forecast to record a “stronger recovery” in 2021 and grow by 5 per cent. Further, the UNCTAD estimates the global economy to grow by 4.7 per cent in 2021.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

The report noted that the deeper than expected downturn in 2020 explains in part the stronger recovery now projected for 2021 for India. According to a UN report which said the country’s current fiscal year budget points to a shift towards the demand-side stimulus, with an uptick in public investment.

Important takeaways for all competitive exams:

  • UNCTAD Headquarters: Geneva, Switzerland.
  • UNCTAD Founder: United Nations General Assembly.
  • UNCTAD Founded: 30 December 1964.

Find More News on Economy Here

×

Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.

[adda247_lead_form]

Leave a comment

Your email address will not be published. Required fields are marked *