Question: What is the new estimate of India’s GDP growth for FY22 as per the OECD?
a) 7.9%
b) 8.9%
c) 9.9%
d) None of the above
Ans: c
Facts
- Organisation for Economic Co-operation and Development (OECD) has cut India’s growth projection to 9.9 % for Financial Year 2022.
- In March, it estimated growth of India’s GDP to 12.6%.
- This decline is projected because of severe 2nd wave of Covid-19 in India.
- As per the OECD India is projected to be the fastest-growing G20 economy in 2021 but it will also be the one which is the furthest away from its pre-crisis GDP trend.
- OECD sees global GDP growth at 5.8 per cent this year (compared with 4.2 per cent projected in December), helped by a government stimulus-led upturn in the US, and at 4.4 per cent in 2022 (3.7 per cent in December).
Organisation for Economic Co-operation and Development (OECD)
- The Organisation for Economic Co-operation and Development (OECD) is a group of 37 member countries that discuss and develop economic and social policy. OECD members are typically democratic countries that support free-market economies. Members of this group are richest and most developed countries of the world.
By kameshwar shukla