OECD cuts India Growth forecast to 6.9% in FY23

The Organisation for Economic Cooperation and Development (OECD) has forecast India’s GDP growth at 6.9 per cent for FY23 from 8.1 per cent estimated earlier. OECD has also projected the growth for India is 6.2% in 2023. The Reserve Bank of India has also estimated the nations growth to 7.2%.

The RBI has also raised the repo rate by 50 basis points (bps) to 4.9% in a bid to curb the soaring inflation in the country. 

OECD Headquarters: Paris, France.