The United Nations has raised India’s growth forecast for this year by 0.2 per cent to 7.5 per cent while terming the outlook as “highly fragile”.
According to the World Economic Situation and Prospects (WESP) mid-2021 report, India’s Gross Domestic Product is expected to grow at 7.5 per cent in calendar year 2021 and at 10.1 per cent in 2022.
This growth projection is higher by 0.2 per cent for this year and by 4.2 per cent for next year in comparison to WESP released in January this year. Last year, according to UN report, the country had seen a de-growth of 6.8 per cent.
“India has been particularly affected by a brutal second wave, which is overwhelming the public health system in large parts of the country. The country has expanded vaccine eligibility and is ramping up supply in every possible manner, but access to vaccines is unequal and insufficient to meet the massive demand. Given the fluid situation, India’s growth outlook in 2021 is highly fragile,” the report says.