The Organisation for Economic Co-operation and Development (OECD) has cut India’s growth projection to 9.9 % for Financial Year 2022. In March, it estimated growth to 12.6%. The rate was cut witnessing covid cases lockdowns which have threatened to stall the nascent economic recovery of India. As per OECD, “pandemic can be contained quickly but GDP (gross domestic product) growth will still be about 10% in 2021-22 and 8% in 2022-23.
Important takeaways for all competitive exams: