India to clock 7.1% GDP this year, 7.5% in 2018: UN report
PTI India is expected to clock 7.1% growth this year before edging up to 7.5% in 2018, according to a UN report, which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks. The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report 'The Economic and Social Survey of Asia and the Pacific 2017' launched yesterday that the economic growth for India is projected to be stable at 7.1% in 2017 before edging up to 7.5% in 2018, underpinned by higher private and public consumption and increased infrastructure spending. Growth in India is forecast at 7.1% this year as "re-monetisation restores consumption, ...
UNESCAP pitches for domestic reforms in Asia-Pacific region
The Dollar Business Bureau The developing economies in the Asia-Pacific region continue to fare well in comparison to the rest of the world, however, the region’s developing countries will witness only a slight growth in 2015, with no significant change expected in 2016. This was stated by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in its macro-economic outlook report released on Thursday. Stating that the structural weakness constrains growth prospects in the region, the report noted that the growth potential of the developing economies in the region is being held back by the infrastructure shortages and the excessive commodity dependence on some countries. The fragile global economic recovery and consequently subdued global trade ...
India for UNESCAP resolution on dry ports development
The Dollar Business Bureau The Government of India, on Tuesday, gave its approval for passage of the ‘Inter-Governmental Agreement on Dry Ports of International Importance’, for signature at the United Nations (UN) Headquarters in New York. The decision taken by the Union Cabinet chaired by the Prime Minister, Narendra Modi, is a follow up of the UN resolution for the development of the dry ports in Asia and the Pacific regions, says an official release. The agreement, under the Resolution of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), promotes international recognition for dry ports in the above-said regions. The agreement is also expected to facilitate investments for infrastructure development of dry ports. By ...
