The Organisation for Economic Cooperation and Development (OECD) expects the Indian economy to contract by 10.2% in FY21 (2020-21) as compared to its previous estimate of 16.7% in June. For FY22 (2021-22), the Paris-based OECD projects India’s gross domestic product (GDP) to grow at 10.7%.
Important takeaways for all competitive exams:
- OECD Headquarters: Paris, France.
- OECD Founded: 1961.
- OECD Secretary-General: Jose Angel Gurria.