भारत के 2024 के आर्थिक विकास अनुमान को संयुक्त राष्ट्र द्वारा संशोधित कर लगभग 7 प्रतिशत कर दिया गया है।

भारत के 2024 के आर्थिक विकास अनुमान को संयुक्त राष्ट्र द्वारा संशोधित कर लगभग 7 प्रतिशत कर दिया गया है।

India’s 2024 economic growth projection revised upwards by UN to nearly 7 per cent.

The UN has raised India's 2024 growth forecast to 6.9%, citing strong public investment and resilient private consumption, with inflation expected to decline.

  • Business
  • 157
  • 17, May, 2024
Jyoti Ahlawat
Jyoti Ahlawat
  • @JyotiAhlawat

India’s 2024 economic growth projection revised upwards by UN to nearly 7 per cent.

The United Nations has revised India's growth projections for 2024, now expecting the country's economy to expand by nearly seven percent this year, primarily driven by robust public investment and resilient private consumption.

The World Economic Situation and Prospects mid-2024 report, released on Thursday, stated, "India’s economy is forecast to expand by 6.9 percent in 2024 and 6.6 percent in 2025, mainly driven by strong public investment and resilient private consumption. Although subdued external demand will continue to weigh on merchandise export growth, pharmaceuticals and chemicals exports are expected to expand strongly."

This 6.9 percent growth projection for India in the mid-year update is an upward revision from the 6.2 percent GDP forecast made by the UN in January. The UN World Economic Situation and Prospects (WESP) 2024 report launched in January had projected India's growth to reach 6.2 percent in 2024, amid robust domestic demand and strong growth in the manufacturing and services sectors. The projection for India’s GDP growth in 2025 remains unchanged at 6.6 percent in the latest economic assessment.

The update also indicated that consumer price inflation in India is expected to decelerate from 5.6 percent in 2023 to 4.5 percent in 2024, staying within the central bank’s medium-term target range of two to six percent. Similarly, inflation rates in other South Asian countries declined in 2023 and are expected to decrease further in 2024, ranging from 2.2 percent in the Maldives to 33.6 percent in Iran. Despite some moderation, food prices remained elevated in the first quarter of 2024, especially in Bangladesh and India.

Jyoti Ahlawat

Jyoti Ahlawat

  • @JyotiAhlawat