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United Nations, May 21
India’s economy is projected to grow at 7.1 per cent in fiscal year 2020 on the back of strong domestic consumption and investment, but the GDP growth is a downward revision from the 7.4 per cent estimated in January this year, according to a report by the United Nations.
The World Economic Situation and Prospects (WESP) 2019 Mid-year Update, which was released here on Tuesday, said that the Indian economy, which generates two-thirds of the regional output in South Asia, expanded by 7.2 per cent in 2018.
India remains the fastest growing major economy in the world, ahead of China. — PTI