As world’s fastest-growing economy at 5.8%, India ‘bright spot’: UN economist

UNITED NATIONS : As the fastest-growing major economy at a clip of 5.8 per cent this year, India is a “bright spot” when the world economy is expected to grow by only 1.9 per cent, according to the UN’s chief official monitoring the global economy.

For next year, the UN is projecting a growth rate of 6.7 per cent, a “very high growth relative to other G20 member countries”, the group of the large developed and emerging economies headed by India, said Hamid Rashid, the Chief of the Global Economic Monitoring Branch, on Wednesday.

Meanwhile in New Delhi, India’s President Droupudi Murmu credited India’s economic performance to its leadership.

“India has been among the fastest-growing major economies because of the timely and proactive interventions of the government. The ‘Aatmanirbhar Bharat’ initiative, in particular, has evoked great response among the people at large, ” Murmu said in her Republic Day speech.

Briefing reporters at the…

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