OECD projects India’s economic growth forecast at 9.7% for FY22 & 7.9% for FY23
- The Organisation for Economic Co-operation and Development (OECD) has cut India’s economic growth rate projections by 0.2 percentage points to 9.7 percent for the current financial year (2021-22).
- For the financial year 2022-23 (FY23), OECD has projected the Indian economy to grow by 7.9 percent, as compared to 8.2% pegged earlier.
- For global economy, OECD has projected a strong growth rate of 5.7% in 2021 and 4.5% in 2022, as compared to 5.8% and 4.4%, respectively, estimated earlier.
Points to Remember:
- GDP growth rate of India in FY22 as per OECD? 9.7%
- GDP growth rate of India in FY23, as per OECD? 7.9%
- GDP growth rate of global economy in 2021, as per OECD? 5.7%
- GDP growth rate of global economy in 2022, as per OECD? 4.5%
- Headquarter of OECD? Paris, France
Source: Business Standard