Indian economy will continue to see robust growth at 7.4 per cent in the next financial year even as only modest recovery is expected in advanced economies, Paris-based think tank OECD said today.
The Organisation for Economic Cooperation and Development (OECD) has raised India’s growth forecast compared to 7.3 per cent expansion projected in November 2015. “India will continue to grow robustly, by 7.4 per cent in 2016 and 7.3 per cent in 2017,” the think tank said in its latest Interim Economic Outlook report. In the case of India, 2016 refers to the fiscal starting from April this year. Earlier this month, India’s Central Statistics Office (CSO) said the country’s economy would grow at a 5-year high of 7.6 per cent in the fiscal ending March, overtaking a slowing China.