May 10, 2012 1:34 PM

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Asia, Pacific to remain world's fastest growing region in global economy

Despite economic slowdown the Asia and the Pacific will remain the world's fastest growing region and anchor of stability in the global economy. This was unveiled in United Nation, Economic and Social Survey of Asia and the Pacific -2012, which was released by Chief Economic Adviser, Kaushik Basu in New Delhi today. According to report, India's growth is projected at 7.5 percent in this year compare to 6.9 percent in the last fiscal. It said there are also indications that the economy of country is turning around as core sectors like manufacturing are showing signs of recovery. The report said the government of India has a targeted public distribution system under which poor are provided a fixed quality of food grains per month at subsidized prices. The report also said to fight against poverty countries need to implement economic reforms to improve productivity, strengthen public institution and build social safety.

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