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OECD Expects India Economy To See Contraction Of Nearly 10%

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Organisation for Economic Cooperation and Development or OECD expects the Indian economy to contract by 10.2% in FY21 as compared to a drop of 16.7% estimated in its June update.

In next fiscal a sharp rebound of 10.7% is expected which is an increase of nearly 3% compared to the previous estimate. Rising inflationary pressures and concerns about financial stability in some economies, particularly India, limit central banks' room to cushion economic activity from the COVID-19 shock, says OECD.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, September 16 2020. 17:04 IST