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.
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