3. India’s GDP growth likely to be at 5.2% in 2013: UNCTAD i. The Indian economy is likely to grow at 5.2 per cent in 2013 calendar year on the back of rising domestic demand, says a report by UN agency UNCTAD. ii. In its release of Trade and Development Report 2013, the United Nations Conference on Trade and Development (UNCTAD) said the Indian economy is expected grow at 5.2 per cent in calendar year 2013 as against 3.8 per cent in 2012. iii. UNCTAD’s India growth forecast at 5.2 per cent for 2013 is however lower than the International Monetary Fund’s projection of 5.6 per cent for the year. iv. In case of China, the UNCTAD report said, the growth rate is expected to moderately decline to about 7.6 per cent in 2013 from 7.8 per cent last year. v. Developing countries may grow at a rate of 4.5-5 per cent in 2013. Note: i.RBI recently in its quarterly review has scaled down the growth projection for the current fiscal to 5.5 per cent from its earlier estimate of 5.7 per cent. ii. Last month, the Asian Development Bank lowered its growth projection for India to 5.8 per cent in calendar 2013 from 6 per cent estimated earlier, citing the slow progress of economic reforms. iii. International Monetary Fund outlook projects India’s economic growth at 5.6 per cent this year.
Posted on: Fri, 13 Sep 2013 06:25:02 +0000
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