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UN agency downgrades India’s GDP growth rate

New Delhi: The UN Conference on Trade and Development (UNCTAD) has downgraded the Gross Domestic product (GDP) growth rate of India for 2022. As per a report by the UNCTAD,  Indian will have a GDP growth rate of 4.6% .  Earlier it was projected at 6.7%.

The UN agency also reduced the global economic growth projection for 2022 to 2.6% from 3.6%. The report has downgraded the GDP growth of the US from 3%  to 2.4%, China to 4.8% from 5.7% and Russia to -7.3 % from  2.3% .

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The UN agency reduced the growth rate due  to the Russia- Ukraine war. The report said while Russia will experience a deep recession this year, significant slowdowns in growth are expected in parts of Western Europe and Central, South and South-East Asia.


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