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India’s GDP for FY21 projected at 4.8%, COVID19 to have adverse economic impact globally: UN report

India’s GDP for FY21 projected at 4.8%, COVID19 to have adverse economic impact globally: UN report

  • India’s GDP growth for the current fiscal is expected to slow down to 4.8 per cent, a UN report has said, warning that the COVID-19 pandemic is expected to result in significant adverse economic impacts globally.
  • The UN ‘Economic and Social Survey of Asia and the Pacific (ESCAP) 2020: Towards sustainable economies’ said that COVID-19 is having far-reaching economic and social consequences for the region, with strong cross-border spillover effects through trade, tourism and financial linkages.
  • India’s GDP growth for the fiscal year 2019-2020 was estimated at 5 per cent and is forecast to slow down to 4.8 per cent for the current fiscal 2020-21. Economic growth for the country could stand at 5.1 per cent for fiscal year 2021-22, the report said.
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