INSUBCONTINENT EXCLUSIVE:
India's economy is projected to grow at 7.1 per cent in fiscal year 2020 on the back of strong domestic consumption and investment but the
GDP growth is a downward revision from the 7.4 per cent estimated in January this year, according to a report by the United Nations
The World Economic Situation and Prospects (WESP) 2019 Mid-year Update, released here Tuesday, said that the Indian economy, which generates
India, however, reflect a downward revision from the projections made in the World Economic Situation and Prospects 2019 report released in
That report had estimated that India would grow at 7.6 per cent in fiscal year 2019 and 7.4 per cent in 2020
WESP mid-year update noted that growth projections for 2019 have been revised downward in all major developed economies
The growth outlook for many developing economies has also weakened, it said, adding that despite downward revisions, growth in India remains
Across both developed and developing countries, growth projections for 2019 have been downgraded
Alongside a slow-down in international trade, business sentiments have deteriorated, casting a cloud on investment prospects," the report
reflecting a downward revision from WESP 2019 forecast released in January
In tandem with slowing industrial production, international trade activity has visibly weakened, reflecting in part unresolved trade
policy are compounded by the waning effects of fiscal stimulus
recent monetary and fiscal stimulus measures are expected to bolster domestic demand, partially offsetting the adverse impact of trade
tariffs on overall growth
Nevertheless, these measures could also exacerbate domestic financial imbalances, raising the risk of a disorderly deleveraging process in
Following an expansion of 5.7 per cent in 2018, GDP growth is estimated at 5.0 per cent in 2019 and 5.8 per cent in 2020
more robust, as around half of exports are destined for faster-growing Asian markets, while geopolitical risks continue to confront
The slowdown in global economic activity has triggered a shift towards easier monetary policy stances across many developed and developing
economies, it said, adding that this shift is taking place in an environment of subdued global inflation, amid weakening demand and a
developing economies, including Egypt, India and Nigeria, reduced their key policy rates
The report projects that with major downside risks prevailing, there is a significant possibility of a sharper slowdown or more prolonged
economies poses a significant risk for both short and medium-term global growth prospects
Alongside unresolved trade tensions with China, the United States recently signalled its intention to impose additional tariffs on the
retaliations would not only dampen growth of these large economies, but also have severe spillover effects on the developing economies,
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