The Organisation for Economic Co-operation and Development (OECD) has revised its growth projections for India, anticipating a further slowdown in the coming fiscal years. The Indian economy is expected to grow at 6.3% in FY24, slightly under the 6.7% growth seen in Q2FY24. However, the outlook for FY25 is even more conservative, with a projected growth of 6.1%. This downward revision is attributed to adverse weather conditions and a globally weakened economic environment.
A: The Organisation for Economic Co-operation and Development (OECD) predicts a growth rate of 6.3% for India in FY24 and a further slowdown to 6.1% in FY25.
A: The OECD attributes the anticipated slowdown to adverse weather-related events and a globally weakened economic environment. It emphasizes the importance of services exports and public investment in mitigating these challenges.
A: Yes, the OECD remains optimistic about India’s economic rebound in FY26, forecasting a growth rate of 6.5%. Factors contributing to this optimism include a decline in inflation, improved purchasing power, the conclusion of the El Niño weather pattern, and global economic improvements.
A: Despite India’s October inflation rate being 4.9%, the OECD projects a slightly higher inflation rate of 5.3% for FY25. The organization expects inflation to decline progressively, contributing to improved economic conditions.
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