At 6%, UN body projects 7-year low GDP growth for India in 2019

The United Nations Conference on Trade and Development (UNCTAD) has pegged India’s economic growth rate at a seven-year low of 6 per cent in calendar year (CY) 2019. It also highlighted the pitfalls of shadow banking in countries such as India and China, citing the example of Infrastructure Leasing & Financial Services (IL&FS).

The UN body also pointed towards challenges in meeting sustainable development goals (SDGs) at a time when private debts are rising globally.

India’s economy grew 7.4 per cent in CY18. It grew below 6 per cent in 2012 — called the policy paralysis year — under the