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UN predicts India’s GDP to be at 5.8 per cent in 2023, figure is less than last year

India GDP: Many estimates keep coming regarding the economic growth rate of India. Along with this, global institutions have been paying attention to the fact that India will remain the fastest growing economy. Now another global organization United Nations has released the estimate for India’s economic growth rate. The expectation that has been expressed in this, although it is less according to the figures of the year 2022.

India’s GDP year 2023 how much will i stay

The United Nations estimated on Wednesday that India’s gross domestic product (GDP) could be 5.8 per cent in the financial year 2023. High interest rates and global economic slowdown are putting pressure on investment and exports and its impact will be seen on India’s economic growth rate. However, the United Nations expects the country’s economic growth to remain “strong” while the outlook for other South Asian countries is “more challenging”.

Global economy’s GDP rate will decline – United Nations

The ‘Global Economic Situation and Prospects-2023’ report states that global output growth is projected to decline from an estimated 3 per cent in 2022 to 1.9 per cent in 2023, one of the lowest growth rates in recent decades. The report attributed this to the situation arising out of the Kovid epidemic and the Russia-Ukraine war, which led to food and energy crisis and increased inflation.

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India’s GDP in 2023 will be less than the year 2022

“Growth in India is expected to remain at 5.8 per cent, though slightly lower than the projected 6.4 per cent in 2022, as higher interest rates and a global slowdown put pressure on investment and exports,” the report said.

What is the figure of the government

The figure released by the Government of India for the country’s GDP is lower than before. For the financial year 2023, the Government of India has estimated an economic growth rate of 7 percent. Last year i.e. in the year 2021-22, it was at 8.7 per cent.

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