India's economic growth likely to fall to 6.1%, says United Nations
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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.
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