OECD projects India’s economic growth forecast at 9.7% for FY22 & 7.9% for FY23

The Organisation for Economic Co-operation and Development (OECD) on Tuesday cut its projection of India’s economic growth by 0.2 percentage points to 9.7 percent for the current financial year (2021-22).

The economy was projected by the grouping of advanced nations to grow by 7.9 percent next financial year, 0.3 percentage points slower than pegged by it earlier. For the global economy, OECD has projected a strong growth rate of 5.7% in 2021 and 4.5% in 2022, as compared to 5.8% and 4.4%, respectively, estimated earlier.