UN Lowers India Growth Forecast To 4.8 Percent For 2013

New Delhi: United Nations has lowered India’s economic growth forecast for 2013 to 4.8 per cent while warning that emerging markets should be prepared to deal with the impact of U.S. Federal Reserve’s quantitative easing programme.

India’s economy is forecast to grow at 4.8 per cent in 2013, down 1.3 per cent from its earlier projection, the UN’s World Economic Situation and Prospects 2014 report said.

Similarly, it has lowered the growth projection for 2014 to 5.3 per cent, down 1.2 per cent from earlier forecast. The UN sees India to grow by 5.7 per cent in 2015.

“In China, growth was expected to maintain a pace of about 7.5 per cent over the next few years, while India’s economy was forecast to grow by more than 5 per cent,” the UN’s World Economic Situation and Prospects 2014 report said.

Growth in South Asia remains lacklustre as a combination of internal and external factors hamper activity, particularly in the region’s largest economies, such as India, it said.
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