India’s economic growth likely to fall 6.1% to says United Nations

India's economic growth is projected to grow at a slower pace of 6.1 per cent this year even as exports and capital investments are likely to be much better than in 2012, according to the United Nations.

The UN has trimmed its growth forecast from 7.2 per cent estimated in June 2012.

However, the forecast of 6.1 per cent growth for this year is much better than 5.5 per cent expansion seen in 2012, as per the UN 'World Economic Situation and Prospects 2013' report.

"GDP growth in India will accelerate to 6.1 per cent in 2013 and 6.5 per cent in 2014 as a result of stronger growth of exports and capital investment... Investment demand is expected to respond to a more accommodative monetary policy stance and slightly improved business confidence," it said.

UN ESCAP's (Economic and Social Commission for Asia and the Pacific) Chief Economist Nagesh Kumar today said that India has huge growth potential in the long term.

India and China are playing a major role in the growth of world economy," he told reporters here.

The slowdown in growth to 5.5 per cent last year "reflected weaker consumption and investment demand as a result of persistent inflation, high nominal interest rates, large fiscal deficits and political gridlock," the UN said.

These factors would likely continue to impact economic growth in the next two years even as a moderate recovery is expected, it said.

According to the UN, India's annual growth declined from over 9 per cent clocked in 2010 to about 5.5 per cent last year,"the slowest pace in ten years".

Regarding measures to contain inflation in the country, Nagesh Kumar said monetary tightening would not be the "right tool".

He also expressed optimism that the Reserve Bank of India (RBI) would ease its policy in the coming months.

Wholesale Price Inflation (WPI) touched a three-year low of 7.18 per cent in December but retail inflation continued to remain in double digit at 10.56 per cent.

Further, WPI inflation was much above the central bank's comfort level of 4-5 per cent.

The inflation has not declined to the expected levels despite tight monetary stance pursued by the RBI to check price rise.

Meanwhile, the report said economic growth in South Asia fell to its lowest in 10 years in 2012.

"After growing by 5.8 per cent in 2011... South Asia's gross domestic product expanded by only 4.4 per cent in 2012.

Going forward, economic growth in the region is projected to accelerate to 5 per cent in 2013 and 5.7 per cent in 2014, led by a gradual recovery in India," the UN said.

Indian economy accounts for almost three-quarter of South Asia's overall GDP. Other countries in South Asia region include Bangladesh, Nepal, Pakistan and Sri Lanka.

Questions

1.Consider the following statements and choose the correct option:

1.Argon-74 is used to determine Brain Tumors

2.Iodine-131 is used in the treatment of Thyroid disorder.

3.Cobalt-60 is used in the treatment of cancer.

4.Phosphorus-34 is used to check whether healing is taking place or not in case of bone fracture

Code:

(a)1, 3 and 4(b)1, 2 and 4

(c)1, 2 and 4(d)1, 2, 3 and 4

2.Consider the following statement related to Karnataka and choose the correct option.

1.Boundaries of Karnataka touches with Maharashtra, Goa, Kerala, Tamil Nadu, Orissa and Andhra Pradesh.

2.Mullayangiri in Baba Budan Hills is the highest point in Karnataka

3.Explosive Research and Development Laboratory is at Mysore.

4.Gokarna, Malpe and Bhatkal are important beaches of Karnataka.

Code:

(a)1, 2 and 4(b)1, 3 and 4

(c)1, 2 and 3(d)2 and 4

3.Consider the following statements related to Maharashtra and choose the correct option:

1.Maharashtra was established on 1 May, 1958 and area wise 3rd largest state in India.

2.Tadoba and Chandoli National Parks are located in Maharashtra.

3.Chhatrapati Shivaji Terminus is a World Heritage Site.

4.Ahirani, Malvanin and Varhadi are famous folk dances of Maharashtra.

Code:

(a)1, 2 and 4(b)1, 3 and 4

(c)2 and 3(d)2, 3 and 4

4.Consider the following statements and choose the correct option:

1.Vitamin A is known as Exorophytol and its deficiency can cause Xerophthalmia.

2.Vitamin C is known as Ascorbic acid and its deficiency can cause scurvy.

3.Vitamin E is known as Alpha-tocopherol and its deficiency can cause miscarriage.

4.Vitamin B and C are fat soluble and Vitamin A, D, E, K are water soluble.

Code:

(a)1, 2 and 3(b)1, 3 and 4

(c)1, 2 and 4(d)1, 2, 3 and 4

5.Match the following:

List-I (Metals)List-II (Ores)

A.Mercury1.Stibnite

B.Antimony2.Galena

C.Cobalt3.Cinnabar

D.Sulphur4.Smaltite

Code:

    ABCD

(a)3124

(b)3421

(c)2431

(d)4132