The Organization for Economic Co-operation and

Solution

    The Organization for Economic Co-operation and Development (OECD) has marginally raised its 2023-24 (FY24) growth forecast for India to 6 per cent, from 5.9 per cent estimated earlier.   It expects a 4.8% inflation in India in FY24. In FY25, it expects India's economic growth to pick up to 7%, in comparison to its April projection of 7.1%. It expects inflation next fiscal year to be 4.4%, compared with the previous estimate of 4.2%.    Global GDP growth in 2023 is projected to be 2.7 per cent, the lowest annual rate since the global financial crisis, except for the 2020 pandemic period.