United Nation Economic and Social Commission for Asia and the Pacific,ESCAP has estimated that the Indian economy will grow at 5.5 percent in the current fiscal. Releasing its annual report on Economic and Social Survey of Asia and the pacific 2014 in New Delhi, said that the Asia -Pacific developing economic are experiencing yet another year of subdued growth. The report forecast that the Asia Pacific region will grow at 5.8 percent this year. The report also called for quick action on the removal of domestic structure constraints and unlocking of fiscal space to help stimulate growth and support social development in the region. The survey highlighted that inflationary pressure, infrastructure shortage would be the main region of slowing down the growth in the region. Survey estimated that the over all inflation in the current financial year would be hovering around 8.0 percent.Addressing the programme, Secretary to Prime Minister's Economic Advisory Council, Alok Sheel said that to tackle the inflation in the country is a big challenge and there is need to work upon it. He also said that there need to looked upon why the inflation is persisting in the region when there is trend of global de-inflation. ESCAP proposed the establishment of an Asia-Pacific Tax Forum for tackling tax evasion and tax fraud in the region.