- January 14, 2022
- Posted by: Stratford Team
- Category: Economy
“India’s recovery is on a solid path”, the UN said on Thursday reporting that the country recorded the highest estimated growth rate among the major economies last year and is set to be on the same trajectory during this year and the next.
The UN’s annual World Economic Situation and Prospects (WESP) report estimated the growth rate of India’s gross domestic product (GDP) at 9 per cent last year and forecast it to moderate to 6.7 per cent this year and 6.1 per cent next year but still retain the highest growth rates among the large economies.
In 2020, the year Covid-19 pandemic struck the world, India’s economy had shrunk by 7.1 per cent – a negative growth rate – according to the report.
China, which came next among the large economies, was estimated to have grown by 7.8 per cent last year and forecast to grow by 5.2 per cent this year and 5.5 per cent next year.
Overall, the global economy’s growth was estimated to be 5.5 per cent last year, bouncing…