The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) said in the latest update that, India’s is estimated to record economic growth of 7% in 2021-22, over a contraction of 7.7% witnessed in the previous fiscal on account of the pandemic’s impact on normal business activity. It also noted that maintaining low borrowing costs while keeping non-performing loans in check would be a challenge.
Important takeaways for all competitive exams:
- UNESCAP Founded: 28 March 1947.
- UNESCAP Headquarters: Bangkok, Thailand.