OECD estimates 7.3% growth in FY18

Says demonetisation to have long-term benefits

The Organisation for Economic Cooperation and Development (OECD) grouping has estimated India’s economy to grow by 7.3 per cent in 2017-18 and 7.7 per cent the year after.

It believes the currency demonetisation’s impact will be only slight on the expansion. The official growth projection for the current financial year economy is 7.1 per cent, against 7.9 per cent a year before.

In a report titled Economic Surveys: India, the OECD says implementing of demonetisation has had transitory and short-term costs but should have long-term benefits. At the launch, the government’s Economic Affairs Secretary, Shaktikanta Das, said the positive effects of demonetisation