Coronavirus impact: OECD slashes India's FY21 growth forecast to 5.1%

Published On: Tuesday, March 3, 2020 | By: Team KnowMyStock

The Organisation for Economic Cooperation and Development (OECD) Yesterday (2-3-2020) lowered India’s GDP growth forecast to 5.1 percent, from its earlier projection of 6.2 percent, for 2020 on concerns over the impact of deadly coronavirus on the domestic as well as the global economy. According to the latest OECD Forecasts, India’s real GDP growth is expected at 5.1 percent during the fiscal year starting April 1, 2020, and improve to 5.6 percent in the following year. The latest projection for 2020-21 is 1.1 percentage points lower than the November 2019 forecast. The OECD has projected India’s growth at 4.9 percent for the financial year ending March 2020. As per the report Global economic growth will sink to levels not seen in over a decade as the coronavirus outbreak hammers demand and supply, challenging central banks and governments to respond to a fast-changing situation, according to the OECD.

Source: variuos sources

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