OECD slashes India growth forecast to 9.4% for FY22

OECD slashes India growth forecast to 9.4% for FY22 – The organisation for Economic Co-operation and Development (OECD) has slashed India’s growth forecast to 9.4% for FY22 from 9.7% estimated in September 2021. however, the agency has also estimated that Indian GP will increase at 8.1% in FY23, and moderate to 5% in FY24.

• OECD has projected the global growth forecast for 2021 from 5% to 5.6%.
• OECD has marked this deterioration due to the enduring negative legacy of the pandemic on key parameters such as investment in new machinery and more.

About Organisation for Economic Co-operation and Development (OECD)

• Secretary-General of OECD: Mathias Cormann;
• Headquarters of OECD: Paris, France;
• Founded: 30 September 1961.

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