OECD ups GDP growth forecast to 12.6% in FY ’22

OECD has projected that the Indian economy will rebound to grow at 12.6% in FY22, the highest growth among G20 countries. This is expected to be assisted by additional fiscal support after the COVID-19 assisted recession.
“The recovery in activity continued in the fourth (December) quarter of 2020, despite new virus outbreaks in many economies and tighter containment measures. Global output remained around 1% lower than it was prior to the pandemic, with marked variation in the pace of recovery across economies,” OECD said in its interim economic outlook.