India to grow at 6.3% in FY24, likely to slowdown to 6.1% in FY25: OECD
New Delhi: The Organization for Economic Cooperation and Development (OECD) Wednesday maintained its forecast for India's growth at 6.3 percent for the fiscal year 2024.
The organization emphasized that the economy will be propelled by a rise in services exports and increased public investment.
Nevertheless, it anticipates a slowdown to 6.1 percent in the fiscal year 2025, attributing this deceleration to adverse weather conditions and a deteriorating global economic outlook.
“While indicators suggest that India’s growth is stable for now, there are strong headwinds from heightened global uncertainty. In addition, the lagged impact of domestic policy tightening will continue to be felt, coupled with the disappointing dynamics of some socio-economic indicators, such as consumer goods’ sales, in rural areas,” the report said.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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