GDP growth

💶The GDP growth forecast of India in fiscal 2022 is estimated to grow at 6.5 per cent as per the United Nations World Economic Situation and Prospects (WESP) 2022 report.

💶Earlier this was estimated at 8.4%. The WESP is a flagship report produced by the UN Department of Economic and Social Affairs (UN-DESA). UN has projected the growth rate for fiscal 2023 (FY 2022-2023) at 5.9 per cent.

💶On a calendar year basis, the report says that India’s GDP is projected to expand by 6.7 per cent in 2022 after a 9 per cent expansion in calendar year 2021, as base effects wane. 

💶GDP growth for the country is forecast to slow down to 6.1 per cent in calendar year 2023, the report said.

💷After expanding by 5.5 per cent in 2021, the global output is projected to grow by only 4.0 per cent in 2022 and 3.5 per cent in 2023.