Categories: Economy

OECD projected India growth forecast to 9.4% for FY22

Paris-based Organisation for Economic Co-operation and Development (OECD) decreased India’s growth forecast to 9.4% for FY22 from 9.7% estimated in September 2021. It has projected the Indian economy to grow at 8.1% in FY23, and moderate to 5% in FY24. OECD lowered the global growth forecast for 2021 to 5.6% from 5.7% earlier.

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According to OECD, low-skilled domestic migrants and urban workers, who faced the brunt of employment shocks in both waves of the pandemic in India, have yet to see their earnings return to pre-pandemic levels.

Important takeaways for all competitive exams:

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

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.