Categories: Economy

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.

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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.

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Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.