Question: What is the percentage of increase in the Indian economy in the Indian economy by the Economic Co-operation and Development Organization (OECD) for the year 2017-18?
(a) 6.8 percent
(b) 6.7 percent
(c) 6.5 percent
(d) 6.4 percent
Answer: (a)
Related Facts:
- The organisation for economic co-operation and development (OECD) has reduced India’s growth forecast from 7.3 per cent to 6.7 per cent in 2017-18.
- It has further trimmed its forecast for India’s growth to 7.2 per cent in 2018-19 from an earlier estimate of 7.7 per cent.
- The OECD believes that the transitory effects of demonetisation, GST implementation and weak environment for business investments have resulted in the downward revision for 2017 growth projections.
- However, it expects GST to boost investment, productivity and growth in the long term.
- Also, global GDP growth has been projected at 3.5 per cent in 2017-18 and 3.7 per cent in 2018-19, with growth likely to be higher in the Euro area, Russia, Japan and Canada.
- Global merchandise trade is expected to grow at 3.6 per cent in 2017, according to the World Trade Organisation.
Reference:
https://cfo.economictimes.indiatimes.com/news/indian-economy-to-grow-6-7-pc-in-2017-18-says-oecd/60785910
https://www.oecd.org/eco/outlook/economic-forecast-summary-india-oecd-economic-outlook-june-2017.pdf
https://www.cmie.com/kommon/bin/sr.php?kall=warticle&dt=2017-09-22%2015:04:47&msec=606