Indian Economy To Grow At 7.1% In 2019-20: UN Report

New Delhi: India's economy is projected to grow at 7.1 percent in the fiscal year 2020 on the back of strong domestic consumption and investment but the GDP growth is a downward revision from the 7.4 percent estimated in January this year, according to a report by the United Nations.

The World Economic Situation and Prospects (WESP) 2019 Mid-year Update, released here on Tuesday, said that the Indian economy, which generates two-thirds of the regional output in South Asia, expanded by 7.2 percent in 2018.

"Strong domestic consumption and investment will continue to support growth, which is projected at 7.0 percent in 2019 and 7.1 percent in 2020," the report said.