Question : ‘A Brighter Outlook But Recovery Will Be Gradual’ is a report released by OECD.This report projects contraction in India’s GDP(2020) at —
(a) -9.9 percent
(b) -8.2 percent
(c) -7.2 percent
(d) -6.8 percent
Answer (a)
Related facts
- ‘A Brighter Outlook But Recovery Will Be Gradual’ is a report released by OECD.
This report projects contraction in India’s GDP(2020) at -9.9 percent.
Higlights of the report
- OECD cuts India’s GDP(2020) contraction rate to 9.9% from 10.2% earlier.
- It forecast that the economy would rebound to 8 per cent in the next fiscal year and 5 per cent a year later, but gross domestic product (GDP) loss would be substantial.
- Vaccination campaigns, concerted health policies and government financial support are expected to lift global GDP by 4.2% in 2021 after a fall of 4.2% this year.
- The recovery would be stronger if vaccines are rolled out fast, boosting confidence and lowering uncertainty.
- The bounce-back will be strongest in the Asian countries that have brought the virus under control but even by the end of 2021, many economies will have shrunk from 2019 levels before the pandemic.
By — Pankaj Pandey.
Link:
http://www.oecd.org/economic-outlook/december-2020/
https://www.business-standard.com/article/economy-policy/oecd-cuts-india-s-fy21-gdp-contraction-rate-to-9-9-from-10-2-earlier-120120101096_1.html#:~:text=%C2%ABBack-,OECD%20cuts%20India’s%20FY21%20GDP,to%209.9%25%20from%2010.2%25%20earlier&text=The%20Organization%20for%20Economic%20Co,cent%20it%20projected%20in%20September.