United Nations ‘World Economic Situation and Prospects 2018’ report

According to ‘World Economic Situation and Prospects 2018’ report, India’s GDP growth is projected to accelerate from 6.7% in 2017 to 7.2% in 2018 and 7.4% in 2019 on the back of strong private consumption, public investment and the ongoing structural reforms. The report, which was unveiled by United Nations Department of Economic and Social Affairs (UN DESA), stated that overall, economic outlook for South Asia is seen largely favourable and steady for the short term, notwithstanding significant medium-term challenges. On India, the UN DESA report has projected a positive outlook despite the slowdown early this year and the lingering effects of demonetisation.