UNCTAD Current Affairs - 2020

UN Report: India to grow at 7.1% in 2020

According to a United Nations’ report titled World Economic Situation and Prospects (WESP) Report 2019 Mid-year Update, India’s economy is projected to grow at 7.1 % in fiscal year 2020 which will be backed by strong domestic consumption and investment.

Key Findings of Report

  • Global Growth: For both developed and developing countries, 2019 growth projections have been downgraded. The growth outlook for many developing economies was also weakened. After an expansion of 3% in 2018, world gross product growth is now projected to settle to 2.7 % in 2019 and 2.9 % in 2020.
  • India’s Growth: Despite a downward revision growth in Indian economy remains strong amid robust domestic demand. India is projected to grow at 7% in fiscal year 2019 and 7.1% in fiscal year 2020.
  • Risk Projections: As per WESP report, certain risks that could trigger a prolonged slowdown in the world economy’s growth include an escalation in trade disputes, a sudden deterioration in financial conditions, and accelerating effects of climate change.
  • The increasing frequency and intensity of natural disasters globally highlight the rising threats faced from climate change, particularly by most vulnerable economies.
  • Recommendations: To tackle current growth slowdown it would require a combination of monetary, fiscal and development-oriented measures. Also, there is an immediate need of more coordinated multilateral approach to global climate policy, which includes use of carbon pricing mechanisms.

About WESP Report

It is a joint product of United Nations Department of Economic and Social Affairs (UNDESA), the United Nations Conference on Trade and Development (UNCTAD) and the five United Nations regional commissions.

Utkarsh Bangla and Sabooj Sathi Schemes of West Bengal gets Global Recognition

The schemes of the West Bengal government ‘Utkarsh Bangla’ (skill training of youth) and ‘Sabooj Sathi’ (cycles for students) won the World Summit on the Information Society (WSIS) awards of UN.

Utkarsh Bangla got the topmost award and emerged as a winner in the Capacity Building category and the Sabooj Sathi was ranked in the first five as a champion project under ICT application: E-Government category.

Utkarsh Bangla

Utkarsh Bangla Scheme is aimed at providing vocational training to school dropouts. The beneficiaries of the scheme will be trained in driving, tailoring, repairing television and other electronic equipment’s, beautician courses etc.

Sabooj Sathi

Sabooj Sathi is a scheme of West Bengal government for distribution of bicycles to the students of class IX to XII studying in Govt. run and Govt. aided Schools and Madrashas.The scheme was launched in September 2015.

World Summit on the Information Society Awards

World Summit on the Information Society (WSIS) Awards were instituted as per requests from the WSIS stakeholders to create an effective mechanism to evaluate and recognize individuals, governments, civil society, local, regional and international agencies, research institutions and private-sector companies for outstanding success in implementing development oriented strategies that leverage the power of ICTs as an enabler of the development.

WSIS is a global multi-stakeholder platform facilitating the implementation of the WSIS Action Lines for advancing sustainable development. The summit is co-organized by ITU, UNESCO, UNDP and UNCTAD, in close collaboration with other UN organizations.

The Summit provides an opportunity for information exchange, knowledge creation and sharing of best practices, while identifying emerging trends and fostering partnerships, taking into account the evolving Information and Knowledge Societies.