NEW DELHI (TIP): Indian economy is projected to grow at a slower pace of 6.1% this year even as exports and capital investments are likely to be much better than in 2012, according to the United Nations. The UN has trimmed its growth forecast from 7.2% estimated in June 2012.
However, the forecast of 6.1% growth for this year is much better than 5.5% expansion seen in 2012, as per the UN ‘World Economic Situation and Prospects 2013’ report. “GDP growth in India will accelerate to 6.1% in 2013 and 6.5% in 2014 as a result of stronger growth of exports and capital investment… Investment demand is expected to respond to a more accommodative monetary policy stance and slightly improved business confidence,” it said. UN ESCAP’s (Economic and Social Commission for Asia and the Pacific) Chief Economist Nagesh Kumar