India’s GDP to grow at 7.4% in 2019: United Nations

India’s economy is likely to grow by 7.2% in 2018 and move up further to 7.4% in the following year on the back of strong private consumption, public investment and the ongoing structural reforms, a United Nations (UN) report said.

Overall, economic outlook for South Asia is seen largely favourable and steady for the short term, notwithstanding significant medium-term challenges, said the ‘World Economic Situation and Prospects 2018’ report unveiled by United Nations Department of Economic and Social Affairs (UN DESA). “The economic outlook remains steady and largely favourable in South Asia, driven by robust private consumption and sound macroeconomic policies,” the report said.