UNITED NATIONS: India’s economy is projected to grow 7.6 per cent in fiscal year 2018-19, remaining the fastest growing economy in the world, as robust private consumption and benefits from past reforms help the country’s GDP gain momentum but sustained recovery in private investment remains a crucial challenge, according to a UN report.
The UN World Economic Situation and Prospects (WESP) as of mid-2018, launched here today, said GDP growth in India is expected to climb to 7.5 and 7.6 per cent in fiscal years 2017-18 and 2018-19 respectively. This is a substantial recovery from the 6.7 per cent growth India registered in fiscal year 2017.
“Among the major economies, growth in India is gaining momentum, underpinned by robust private consumption, a slightly more supportive fiscal stance and benefits from past reforms,” the report said. (AGENCIES)
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