Economy | India to grow at 6% in 2009, says UN survey

Economy | India to grow at 6% in 2009, says UN survey
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First Published: Thu, Mar 26 2009. 10 39 PM IST
Updated: Thu, Mar 26 2009. 10 39 PM IST
New Delhi: In its annual survey of the region, released on Thursday, the United Nation’s Economic and Social Commission for Asia and the Pacific, or Escap, identified a triple whammy of trends threatening to derail development: a global financial crisis, fluctuations in the prices of food and fuel, and “looming” climate change disasters.
Escap forecast a growth rate of 4.3% in 2009 for the South and South-West Asian region, and, “with some moderation in growth”, a forecast of 6% growth for India. The report estimated that the financial crisis would increase the numbers of the unemployed by seven million to 23 million in the Asia-Pacific this year, with particular impact in export manufacturing industries, tourism, construction and real estate. In India, Escap noted the rise of the fiscal deficit, the trade deficit as well as the current account deficit.
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26 FDI proposals worth Rs1,042 cr approved
New Delhi: The government on Thursday approved 26 foreign direct investment (FDI) proposals that will bring in Rs1,042.91 crore into the country.
NEO Sports Broadcasting Pvt. Ltd’s plan to invest Rs258.53 crore is among the proposals approved on the recommendation of Foreign Investment Promotion Board.
PTI
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First Published: Thu, Mar 26 2009. 10 39 PM IST