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UN estimates on India’s economic growth: India to overtake China in 2021

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The Indian economy has been hit hard by the coronavirus epidemic. The economy is improving now. The United Nations hopes that India’s economy will grow exponentially soon. Last year, the economy was seen as a 9.6 percent decline. But the UN expects the calendar year to grow at a rate of 7.3 percent a year.

The World Economic and Prospects Report-2021, released by the United Nations on Monday, says the government has announced a series of package measures to bring the Indian economy out of the crisis. However, the country’s GDP has been declining. According to the report, India’s GDP is projected to decline by 5.6 per cent in 2022.

UN estimates on India's economic growth: India to overtake China in 2021 1

“China is the only country that has seen economic growth last year,” the report said. The Chinese economy is projected to grow 2.7 percent during the coronation period, up from 6.2 percent this year. It is expected to grow by 5.6 percent next year. According to the report, the global economy saw a 7.3 percent decline due to covid. This year, it is projected to grow by 6.8 percent and 5.7 percent next year.

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