Question
The Organization for Economic Co-operation and
Development (OECD) has marginally raised its 2023-24 (FY24) growth forecast for India to_______ , from 5.9 per cent estimated earlier.Solution
The Organization for Economic Co-operation and Development (OECD) has marginally raised its 2023-24 (FY24) growth forecast for India to 6 per cent, from 5.9 per cent estimated earlier. It expects a 4.8% inflation in India in FY24. In FY25, it expects India's economic growth to pick up to 7%, in comparison to its April projection of 7.1%. It expects inflation next fiscal year to be 4.4%, compared with the previous estimate of 4.2%. Global GDP growth in 2023 is projected to be 2.7 per cent, the lowest annual rate since the global financial crisis, except for the 2020 pandemic period.
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