In its mid-year report of the World Economic Situation and Prospects (WESP), United Nations(UN) has increased India’s GDP growth forecast for the calendar year 2021 to 7.5 percent, a 0.2 percent increase from its earlier projection (January 2021 projection – 7.3 percent) following a contraction of 6.8 percent (-6.8) in 2020.
- The report forecasted India’s GDP to grow at 10.1 percent in 2022, becoming the fastest-growing major economy in the world.
- United Nations has said that India will be the world’s fastest growing major economy in 2022.
Key points about the Report:
i.The UN stated India’s growth outlook of 2021 as “highly fragile” due to COVID-19.
ii.India’s investment growth fell to 10.2 percent in 2021(3rd largest among the G20 Nations)
iii.The global economy is projected to expand by 5.4 percent in 2021 following a sharp contraction of 3.6 per cent in 2020
iv.South Asia’s economic growth is projected at 6.9 percent in 2021 against a 5.6 percent drop in 2020.
Points to be noted about UN:
- The UN was established on 24 October 1945, after World War II ended, with an aim of preventing further wars.
- The UN emblem shows two olive branches – the symbol for peace.
- The General Assembly is the main deliberative, policymaking and representative organ of the UN.
- The United Nations has set sustainable development goals for 2030, in order to achieve a better and more sustainable future.
- The name “United Nations” was coined by US President Franklin Delano Roosevelt.
Recent Related News:
The United Nations(UN)’s English Language Day and Spanish Language Day are annually observed across the Globe on 23rd April to promote the use of both English and Spanish respectively as the official language of the organisation.
About United Nation(UN):
Establishment – 24 October 1945
Headquarters – Newyork, United States
Members states – 193
Secretary-General – Antonio Manuel de Oliveira Guterres