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OECD raises India's economic growth forecast to 12.6% for 2021-22

The Indian economy was officially projected to decline by 8 per cent in the current fiscal year.

Indian currency of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012. REUTERS/Vivek Prakash/Files
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Indivjal Dhasmana New Delhi
The Organization for Economic Co-operation and Development (OECD) has raised the projection for India’s economic growth rate by 4.7 per centage points at 12.6 per cent for 2021-22. That would enable India to retain its earlier tag of the fastest growing large economy in the world. 
 
In its interim report on economic outlook, OECD said: “Activity moved above pre-pandemic levels in China, India, and Turkey, helped by strong fiscal and quasi-fiscal measures and a recovery in manufacturing and construction.”
 
It, however, pegged economic growth rate to come down to 5.4 per cent in 2022-23, which would be higher

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