- UNCTAD projected India’s growth will decline to 6 per cent in 2023 from 6.6 per cent in 2022. The growth will decline because of the weakening of government spending.
- It projected that global growth in 2023 will decline to 2.1% from its earlier projection of 2.2%.
- The report warns that monetary and fiscal policy moves in advanced economies risk pushing the world towards global recession and prolonged stagnation, inflicting worse damage than the financial crisis in 2008 and the COVID-19 shock in 2020.
- Developing countries may see their public external debt increase to $2.4-3.6 trillion in 2020 and 2021.
Question:
Q.1 According to UN Trade and Development Conference (UNCTAD), India’s economy will grow at ________ in 2023.a. 6.2%
b. 5.7%
c. 6.1%
d. 6.0%
