New Delhi: India will remain as the fastest growing economy in the world. The United Nations World Economic Situation and Prospects (WESP) 2024 released by the UN Department of Economic and Social Affairs revealed this. The UN agency revised India’s gross domestic product (GDP) growth forecast for the 2024 calendar year to 6.2. Earlier it was predicted at 6.3%.
‘Growth in India is projected to reach 6.2 per cent in 2024, slightly lower than the 6.3 per cent estimate for 2023, amid robust domestic demand and strong growth in the manufacturing and services sectors,’ said the World Economic Situation and Prospects (WESP) report.
Also Read: Republic Day 2024: Know how and where to buy tickets
‘In 2022, FDI (foreign direct investment) flows to India rose by 10 per cent, making it the third largest host country for announced greenfield projects. Another driver of fixed capital formation in the country is the increased government spending on roads, railways, and renewable energy projects, which can have a crowd-in effect on private sector investment,’ the report said.
Global economic growth is projected to slow from an estimated 2.7 per cent in 2023 to 2.4 per cent in 2024.
Post Your Comments