Second Covid-19 wave: OECD cuts India growth forecast to 9.9% for FY22

The Organisation for Economic Co-operation and Development (OECD) cut its growth projection for India for FY22 to 9.9 per cent from 12.6 per cent estimated in March, as the second wave of coronavirus infections has paused economic recovery in Asia's third largest economy. 

OECD said while India is projected to be the fastest-growing G20 economy in 2021, it will also be the one which is the furthest away from its pre-crisis GDP trend.

Prospects for the world economy have brightened but the recovery is likely to remain uneven and, crucially, dependent on the effectiveness of public health measures and policy support, according