OECD Raises Indian Economy Growth Forecast to 6.6% for 2024-25

• The Organisation for Economic Co-operation and Development (OECD) has revised India’s GDP growth projection upward to 6.6% for the fiscal year 2024-25. This adjustment reflects the anticipation of robust growth driven primarily by increased public investment and improved business sentiment.
• Globally, GDP growth is forecasted to reach 3.1% in 2024, with a slight uptick to 3.2% in 2025. Variances across countries are noted, with stronger growth in the US and major emerging markets juxtaposed against softer outcomes in Europe and several low-income nations.
• The report anticipates the possibility of the Reserve Bank of India implementing its first rate cut by late 2024, with cumulative cuts of up to 125 basis points by March 2026, contingent upon a normal monsoon season and stable inflation expectations.

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Published date : 06 May 2024 05:07PM