The Organisation for Economic Co-operation and Development (OECD) has marginally lowered India's growth estimate for the current fiscal to 9.7%, a reduction of 20 basis points, and to 7.9% for the next financial year, down 30 basis points from its May forecast. The organisation had slashed India's FY22 growth forecast to 9.9% in May from 12.6% estimated in March, as the second Covid-19 wave impacted the economic recovery.
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