INSUBCONTINENT EXCLUSIVE:
2019-20, before tapering down to 7.4 per cent in 2020-21, according to a UN report released on Wednesday.The report United Nations' World
Economic Situation and Prospects (WESP) 2019 said that India's growth continues to be underpinned by robust private consumption, a more
crucial to lift medium-term growth," the report said, referring to the sustained slowdown in domestic private investment owing to various
factors such as the massive accumulated non-performing assets (NPAs or bad loans) of banks, highly leveraged corporates and a general credit
7.4-7.5 per cent gross domestic product (GDP) growth rate," UNESCAP's Director and Head South and South-West Asia Office, Nagesh Kumar, told
reporters here at the launch of the report.Noting that India's growth currently is fuelled by private consumption with the potential of
expanding on the back of "pent-up demand", Kumar said that a revival of private investment could help push the country's growth trajectory
prospects, the report said it would continue to grow at a steady pace of around 3 per cent in 2019 and 2020, after expanding by 3.1 per cent
financial instabilities linked to elevated levels of debt; and rising climate risks, as the world experiences an increasing number of
