OECD trims India's economic growth forecast to 9.7% for FY22

The Organisation for Economic Co-operation and Development (OECD) on Tuesday cut its projection of India's economic growth by 0.2 percentage points to 9.7 per cent for the current financial year.

The economy was projected by the grouping of advanced nations to grow by 7.9 per cent next financial year, 0.3 percentage point slower than pegged by it earlier.

If the projections come out to be correct, India's economy would be the fastest growing large economy in both these years. It would be followed by China at 8.5 per cent in 2021 and Spain at 6.6 per cent in 2022. China