Team Blitz India
NEW DELHI: India’s GDP is projected to grow at 7.8 per cent in the just-concluded financial year 2023-24 and the forecast is for around 6.6 per cent in each of the following two fiscal years, according to OECD’s latest Economic Outlook. However, global near-term developments pose obstacles to higher growth.
In the Economic Outlook report released on May 3, the Paris-based research body Organisation for Economic Co-operation and Development (OECD) has said India’s domestic demand will be driven by gross capital formation, particularly in the public sector, with private consumption growth remaining sluggish.OECD is a group of 37 member countries that discuss and develop economic and social policy.
In the report, OECD asserted that exports will continue to grow, especially of services such as information technology and consulting where India will continue to increase its global market share, supported by foreign investment.
