A report by the United Nations says India’s economy is projected to grow at 7.1% in the fiscal year 2020 on the back of strong domestic consumption and investment.
The report which was released yesterday said, the Indian economy expanded by 7.2% in 2018. However, it said, GDP growth is a downward revision from the 7.4% estimated in January this year.
The report said, strong domestic consumption and investment will continue to support growth, which is projected at 7.0% in 2019 and 7.1% in 2020.
The estimates for India, however, reflect a downward revision from the projections made in the World Economic Situation and Prospects 2019 report released in January this year. That report had estimated that India would grow at 7.6% in the fiscal year 2019 and 7.4% in 2020.