The UN World Economic Situation and Prospects (WESP) 2015 report states that India’s growth in terms of GDP is expected to reach 5.9% in 2015 and 6.3% in 2016 due to the key reforms announced by the new government
The WESP report is released at the beginning of every year by the
- UN Department of Economic and Social Affairs (DESA)
- UN Conference on Trade and Development
- UN regional commissions
- World Tourism Organisation
According to the report, economic growth in South Asia will rise to 5.4% in 2015 and 5.7% in 2016. The report further adds that, the global economy will grow at 3.1% in 2015 and 3.3% in 2016, compared with an estimated growth of 2.6% in 2014.
Knowledge is Wealth
The UN DESA is responsible for the follow-up to the major UN Summits and Conferences.
The UN DESA was formed in 1948 and its HQ is New York. It is also a member of UN Development Group.
The World Tourism Organization is the UN Agency responsible for the promotion of sustainable and universally accessible tourism.
The World Tourism Organization was formed in 1957 and it’s HQ is Madrid, Spain.