UN projects India GDP at 6.5% in FY22 and 5.9% in FY23

Indian economy expected to grow 6.5% in the current financial year ending Maech 2022, (FY22), down from the earlier forecast of 8.4% amid rapid vaccination progress, the United Nations said.

The WESP is a flagship report produced by the UN Department of Economic and Social Affairs (UN-DESA). UN has projected the growth rate for the fiscal 2023 (FY 2022-2023) at 5.9 percent.

On a calendar year basis UN has projected India’s GDP as follows:

• 2021 – 9 percent
• 2022 – 6.7 percent
• 2023 – 6.1 percent

Globally, the economy is projected to grow at:

• 2021 – 5.5 percent 
• 2022 – 4.0 percent 
• 2023 – 3.5 percent