While there is a huge debate over the current status of India’s economy and its future, a better news seems to have come from the Organisation for Economic Cooperation and Development (OECD). According to the Paris based organisation, India’s monetary and fiscal policies have become accommodative as election-related uncertainties have faded.
It will result in economic growth recovering to just under 6.5 per cent by next financial year (2020-21).
India’s economy grew by 6.8 per cent in 2018-19. The OECD marginally cut its growth forecast for 2019 to 5.8 per cent but said it will pick up to 6.2 per cent in 2020 and further to 6.4 per cent in 2021.
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The OECD Economic Outlook’s second edition for 2019 says New Delhi’s income support scheme for farmers and good monsoon are supporting private consumption.
Source: News
