India’s GDP to grow 7.5% in 2021, outlook fragile: UN

TIL Desk/Business/UN/ The United Nations has raised India’s growth forecast to 7.5 per cent for calendar year 2021, marking a 0.2 per cent increase from its projection in January, but said the country’s outlook for the year remains highly fragile.

The surging COVID-19 infections and inadequate vaccination progress in many countries threaten a broad-based recovery of the world economy, said the World Economic Situation and Prospects report.

It also projected India’s GDP to grow by 10.1 per cent in 2022. “India has been particularly affected by a brutal second wave which is overwhelming the public health system in large parts of the country.”

The UN report said the country has expanded vaccine eligibility and is ramping up supply in every possible manner but access to vaccines is unequal and insufficient to meet the massive demand. “Given the fluid situation, India’s growth outlook in 2021 is highly fragile,” it said.