Gradual economic recovery seen in India: UN ESCAP
New Delhi, May 8:A gradual economic recovery is seen in India, as the corporate sector adjusts to GST and infrastructure spending improves, said a UN report -- Economic and Social Survey of Asia and the Pacific -- on Tuesday.
"A gradual recovery is foreseen in India, according to the report; with private investment being expected to revive as the corporate sector adjusts to GST, infrastructure spending and corporate and bank balance sheets improving with government support," the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) said in a statement here.
As per the report, the 2018 growth rate is expected to moderate in South and South-West Asia, before picking up again in 2019.
"The annual Economic and Social Survey of Asia and the Pacific forecasts economic growth to moderate to 6 per cent in 2018 in South and South-West Asia (from 6.4 per cent in 2017), before picking up to 6.2 per cent in 2019," the statement said.
"South and South-West Asia remains the fastest growing sub-region in Asia-Pacific, according to the survey."
In addition, the report pointed out that due to robust domestic demand and improved global economic prospects, developing economies in the Asia-Pacific region are projected to grow by 5.5 per cent in both 2018 and 2019, with a slight moderation in China offset by a recovery in India and steady performance in the rest of the region.
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UP: Misled by GPS navigation, car falls into river from partially constructed bridge, 3 dead
Bareilly (UP), Nov 24: Three people died when their car fell into the Ramganga river from a partially constructed bridge here on Sunday, police said, adding that they suspect the driver was misled by its navigation system into taking the unsafe route.
The accident occurred around 10 am on the Khalpur-Dataganj road when the victims were travelling from Bareilly to Dataganj in the Badaun district, they said.
"Earlier this year, floods had caused the front portion of the bridge to collapse into the river, but this change had not been updated in the system," Circle Officer Ashutosh Shivam said.
The driver was using a navigation system and did not realise that the bridge was unsafe, driving the car off the damaged section, the police said.
There were no safety barriers or warning signs on the approach to the damaged bridge, leading to the fatal accident, Shivam said.
Upon receiving information, police teams from Faridpur, Bareilly and Dataganj police station rushed to the spot. They recovered the vehicle and the bodies from the river, Shivam added.
The circle officer said that bodies had been sent for post-mortem. Further investigation into the matter is underway.
— Bareilly Police (@bareillypolice) November 24, 2024
