INDIA GDP TO GROW BY 7.3 % IN 2016 AND 7.5% IN 2017 STATES A UN REPORT

INDIA is expected to be the fastest growing large economy in 2016-17, the World Economic Prospects 2016 Report by United Nations, launched on Friday, has pointed out.

India’s average gross domestic product (GDP) growth has been estimated to grow by 7.3 per cent in 2016 and 7.5 per cent in 2017, up from 7.2 per cent in 2015. The calculations, made on a calendar year basis but extrapolated for the financial year, shows China will be increasing its GDP by 6.9 per cent and 6.5 per cent for the next two years.

The report is an annual joint product of the United Nations Department of Economic and Social Affairs, the United Nations Conference on Trade and Development  and the five regional commissions of the world body. It estimates global growth will be slightly higher at 2.9 per cent in 2016 and 3.2 per cent in 2017.

(Agencies)