UN report has reduced India's 2024 GDP growth forecast to 6.2%

Current Context: The United Nations recently revised its forecast for India's 2024 GDP growth to 6.2%, slightly lower than the previous estimate of 6.3%.

• This revision was announced in the World Economic Situation and Prospects (WESP) 2024 report.
• Here are some key points to consider regarding this updated forecast:
• Global slowdown: The WESP report predicts a global economic slowdown in 2024, with global growth dropping to 2.4% from 2.7% in 2023. This could have a ripple effect on India's exports and trade.
• Domestic factors: While domestic demand and sectors like manufacturing and services are expected to remain strong, some potential concerns include:
• Erratic rainfall patterns: This could dampen agricultural output, impacting a crucial sector of the Indian economy.
• Inflationary pressures: Continued inflationary pressures could affect consumer spending and investment.

Question:

Q.1 According to the United Nations, what percentage is India's projected GDP growth for 2024?
a. 6.2%
b. 5.2%
c. 6.7%
d. 7.2%