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Indian economy estimated to contract by 9.6% in 2020, grow at 7.3% in 2021: UN
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Published: Wednesday, January 27, 2021, 8:18 [IST]
United Nations, jan 27: India s economy is projected to grow at 7.3 per cent in 2021, even as it is estimated to contract by 9.6 per cent in 2020 as lockdowns and other efforts to control the COVID-19 pandemic slashed domestic consumption, the UN has said.
The World Economic Situation and Prospects 2021, produced by the United Nations Department of Economic and Social Affairs (UN DESA), said the world economy was hit by a once-in-a-century crisis a Great Disruption unleashed by the COVID-19 pandemic in 2020.
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The global economy shrank by 4.3 per cent last year, over two-and-a-half times more than during the global financial crisis of 2009. The modest recovery of 4.7 per cent expected in 2021 would barely offset the losses of 2020.
Updated Jan 26, 2021 | 12:00 IST
United Nations Department of Economic and Social Affairs said the world economy was hit by a once-in-a-century crisis a Great Disruption unleashed by the COVID-19 pandemic in 2020 Indian eco estimated to grow at 7.3% in 2021: UN | Photo Credit: Thinkstock
India s economy is projected to grow at 7.3 per cent in 2021, even as it is estimated to contract by 9.6 per cent in 2020 as lockdowns and other efforts to control the COVID-19 pandemic slashed domestic consumption, the UN has said.
The World Economic Situation and Prospects 2021, produced by the United Nations Department of Economic and Social Affairs (UN DESA), said the world economy was hit by a once-in-a-century crisis a Great Disruption unleashed by the COVID-19 pandemic in 2020.