A United Nations report on global economic prospects has projected India's economy to grow at a pace a tad lower than 8 per cent in 2012 and 2013 in view of the sharp increase in downside risks stemming from the problems in Europe and the U.S.

In its report on ‘World Economic Situation and Prospects 2012,' released here on Tuesday, it said: “India's economy is forecast to expand at a pace similar to 2011 in the following two years ... at 7.7 per cent in 2012 and 7.9 per cent in 2013.”