Indian GDP to crawl at 6.7% in 2012: UN
The UN hewed down its growth predictions for India for the year 2012 by predicting a 6.7% growth rate rather than a 7.7% rise estimated earlier. UN declared Eurozone Debt Crisis as the biggest threat to the world economy. As per UN:-
- Global economy to grow by 2.5% in 2012 and 3.1% in 2013. It registered growth of 2.7% in 2011
- Most of the world economies are likely to expand at a rate below potential
- South Asian economy to perform moderately with 5.6% growth in 2012, sliding down from 6.1% in 2011
- Indian economy is predicted to expand by 6.7% in 2012, after expanding by 7.1% in 2011
- Debilitating demand in developed countries and a slowing Chinese economy may impact economic growth in East Asia.
- Average regional growth is likely to slow from 7.1% in 2011 to 6.5% in 2012.
- China’s growth to decline from 9.2% in 2011 to 8.3% in 2012
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Month: Current Affairs - June, 2012