New Delhi: After the International Monetary Fund (IMF) expects the Indian economy to grow faster, the United Nations (UN) has also expressed confidence in the Indian economy. In a report released by the United Nations (UN) on Wednesday, the Indian economy will grow faster at 2019 and 2020. It was also stated in the report that the growth rate of the Indian economy would be the highest in the whole world.
Getting the support from the benefits of previous reforms
The UN report said that 7.4 percent in 2018-19 and 7.6 percent in the next financial year 2019-20. The United Nations Global Economic Status and Prospects (WESP) 2019 report estimates that the growth rate of India's Gross Domestic Product (GDP) in the year 2020-21 will be 7.4 percent. It has been said in the report that growth is being supported by the strong personal consumption and financial position with greater expansion and the benefits of previous reforms.
Need to continually improve private investment
It has been said in the report that continuous improvement in private investment is necessary for the medium term growth rate. Referring to the global economy, the report said that in 2019 and 2020, its growth rate will be close to three percent. United Nations Secretary-General Antonio Guteras cautioned that global economic indicators are largely favorable, but they do not tell the whole story. He said that global economic conditions and prospects have raised concerns about the sustainability of global economic growth in 2019.
China will slow down
In the UN report, referring to China, it has been said that there is an estimated 6.6 percent growth rate in 2018 and 6.3 percent in 2019. Trade war has also been described as responsible for this.
IMF estimates
Before the UN, the IMF had said that the growth rate of Indian economy is estimated to be 7.5 percent in 2019 and 7.7 percent in 2020. The IMF had said that during the two years, the growth rate of Indian economy would be one percent higher than that of China. In 2019 and 2020, China's economy is projected to grow at 6.2 percent.
Getting the support from the benefits of previous reforms
The UN report said that 7.4 percent in 2018-19 and 7.6 percent in the next financial year 2019-20. The United Nations Global Economic Status and Prospects (WESP) 2019 report estimates that the growth rate of India's Gross Domestic Product (GDP) in the year 2020-21 will be 7.4 percent. It has been said in the report that growth is being supported by the strong personal consumption and financial position with greater expansion and the benefits of previous reforms.
Need to continually improve private investment
It has been said in the report that continuous improvement in private investment is necessary for the medium term growth rate. Referring to the global economy, the report said that in 2019 and 2020, its growth rate will be close to three percent. United Nations Secretary-General Antonio Guteras cautioned that global economic indicators are largely favorable, but they do not tell the whole story. He said that global economic conditions and prospects have raised concerns about the sustainability of global economic growth in 2019.
China will slow down
In the UN report, referring to China, it has been said that there is an estimated 6.6 percent growth rate in 2018 and 6.3 percent in 2019. Trade war has also been described as responsible for this.
IMF estimates
Before the UN, the IMF had said that the growth rate of Indian economy is estimated to be 7.5 percent in 2019 and 7.7 percent in 2020. The IMF had said that during the two years, the growth rate of Indian economy would be one percent higher than that of China. In 2019 and 2020, China's economy is projected to grow at 6.2 percent.
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