UN raises India’s growth rate to 6.9 percent


Geneva: The UN has raised India’s growth forecast for this year by 0.7 percent to 6.9 percent, making it the world’s fastest growing major economy. Hamid Rashid, head of the UN’s global economic monitoring branch, said  that the Indian economy is growing at a fast pace due to low inflation, strong exports and increase in foreign investment. “Inflation has come down significantly. This means the fiscal position is not as constrained as in other countries,” he said. Rashid said exports have been “quite strong” and India is also benefiting from…

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