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OECD lowered India’s FY22 growth projection to 9.7%

OECD lowered India's FY22 growth projection to 9.7%_50.1

The Organisation for Economic Co-operation and Development (OECD) has marginally lowered India’s growth projection for the ongoing fiscal to 9.7%, a reduction of 20 basis points (bps). For FY23, OECD reduced India’s growth projection by 30 basis points to 7.9%.

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According to OECD data, India is the worst hit among major economies, with its real GDP in the June quarter 15% lower than the pre-pandemic forecast and around 7% lower than the December quarter.

Important takeaways for all competitive exams:

  • Organisation for Economic Co-operation and Development Headquarters: Paris, France
  • Organisation for Economic Co-operation and Development  Founded: 30 September 1961.

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OECD lowered India's FY22 growth projection to 9.7%_60.1

OECD lowered India's FY22 growth projection to 9.7%_70.1

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