The United Nations (UN) has lowered global economic growth forecast for the coming two years even as it warned of a new global recession due to the US fiscal cliff situation and EU debt crisis. It also said inflationary pressures and large fiscal deficit will limit the scope for policy stimulus in India.
The UN’s ‘World Economic Situation and Prospects 2013’ report released yesterday said growth of the world economy has weakened considerably during 2012 and is expected to remain
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