UN Report: In 2016 India will be Fastest Growing Economy [ Current Affairs ]
According to United Nations (UN) World Economic Situation and Prospects 2016 Report in 2016 India will be the fastest growing big economy in the world. As per describe in report India’s growth rate is 7.3 % in the year 2016 and 7.5 % in 2017 gated up from 7.2 % rate in 2015.
- Because of sharp decline in the prices of oil, food and metals the highest growth rate in India has been qualified to improvement in the macroeconomic environment.
- Even after Indian government facing difficulties in implementing its wide-ranging economic reform agenda confidence of investor and consumer has increased.
- But still some of the economic indicators such as industrial production will remain unstable.
- South Asia region is expected to be the world’s fastest-growing region in 2016 and 2017 even though stimulating global conditions.
- Published on: January 25, 2016