UNESCAP estimate India’s Economic Growth of 7% in FY 21-22

The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) in the latest update estimated India’s economic growth of 7% in 2021-22, over a contraction of 7.7% witnessed in the previous fiscal on account of the pandemic’s impact on normal business activity. It also noted that maintaining low borrowing costs while keeping non-performing loans in check would be a challenge.