What’s in the news?

• The United Nations has released a new report titled “World Economic Situation and Prospects Report 2024”.

Highlights of the Report 

• The report revised India’s gross domestic product (GDP) growth estimate for the 2024 calendar year to 6.2 per cent, compared to 6.7 per cent earlier.
• The report has revised its 2023 GDP growth projection for India upwards by 0.5 percentage points to 6.3 per cent, primarily driven by robust private consumption and substantial public investment.
• However, global economic growth is projected to slow from 2.7 per cent in 2023 to 2.4 per cent in 2024, trending below the pre-pandemic growth rate of 3 per cent.
• GDP in South Asia is projected to increase by 5.2 per cent in 2024, driven by robust expansion in India, which remains the fastest-growing large economy in the world.

Related Information

About UN

• The United Nations is an international organization founded in 1945. 
• Currently made up of 193 Member States (including India), the UN and its work are guided by the purposes and principles contained in its founding Charter.
• The UN remains the one place on Earth where all the world’s nations can gather together, discuss common problems, and find shared solutions that benefit all of humanity.
• The main bodies of the United Nations are the General Assembly, the Security Council, the Economic and Social Council, the Trusteeship Council, the International Court of Justice, and the UN Secretariat. All were established under the UN Charter when the Organization was founded in 1945.
• There are 17 Specialized Agencies of the UN which are international organizations working with the UN, in accordance with relationship agreements between each organization and the UN.