Press Esc to close
Wednesday 16 August 2017
News updated at 6:40 PM IST

India's growth at 5.9% in 2014-18: OECD

Brunei/New Delhi/Washington, Oct 8, 2013, PTI: 22:24 IST
India is projected to see moderate average annual growth of 5.9 per cent during the 2014-18 period amid the country witnessing macroeconomic weaknesses, according to Paris-based thinktank OECD.

The forecast for India is much lower than OECD’s estimated growth of 6.9 per cent for overall Emerging Asian economies in the same period.

The Organisation for Economic Cooperation and Development (OECD) said in its report on Tuesday that growth in Emerging Asia would remain robust over the medium term, anchored by steady rise in domestic demand. “As a whole, the Emerging Asian economies are expected to grow by 6.9 per cent per annum in 2014-18. It is a robust pace, albeit less than the 8.6 per cent registered before the global financial crisis (2000-07).

OECD said India’s growth is expected to moderate to 5.9 per cent during 2014-18 period, compared to 7.1 per cent between 2000-07.

Economic growth rate slipped to a decadal low of 5 per cent in 2012-13 and declined to 4.4 per cent in the first quarter (April-June) of the current financial year.

In the current fiscal, RBI expects the economy to expand 5-5.5 per cent.

IMF cuts FY ’13 estimates

The International Monetary Fund (IMF) on Friday lowered its projection of India's growth rate to 3.75 per cent in 2013 from 5.7 per cent estimated earlier on account of poor demand and weak manufacturing and services sector performance.

In its World Economic Outlook report, IMF also said India is among the economies that may require more tightening to address inflation pressure.

"In India, growth in fiscal year 2013 is expected to be around 3.75 per cent, with strong agriculture production offset by lacklustre activity in manufacturing and services, and monetary tightening adversely affecting domestic demand," the IMF said.

"For fiscal year 2014, growth is projected to accelerate somewhat to 5 per cent, helped by an easing of supply bottlenecks and strengthening of exports," according to the report released at the IMF and World Bank meetings in Washington.

Go to Top

Photo Gallery
A view of the India Gate in New decorated with tri-colours on the evening on the occasion of Indep..

A view of the India Gate in New decorated with tri-colours on the evening on the occasion of Indep..

Congress President Sonia Gandhi and party Vice-President Rahul Gandhi after celebrations of the ....

Congress President Sonia Gandhi and party Vice-President Rahul Gandhi after celebrations of the ....

President Ramnath Kovind with Army Chief Gen Bipin Singh Rawat and Navy Chief Admiral Sunil Lanba...

President Ramnath Kovind with Army Chief Gen Bipin Singh Rawat and Navy Chief Admiral Sunil Lanba...

College girls in Chennai paint their faces with Indian tricolour as they celebrate the 71st Indepe..

College girls in Chennai paint their faces with Indian tricolour as they celebrate the 71st Indepe..

Students wave the Indian tricolor flag while celebrating the 71st Independence Day in Mumbai on ...

Students wave the Indian tricolor flag while celebrating the 71st Independence Day in Mumbai on ...

Prime Minister Narendra Modi addressing the nation from the ramparts of the Red Fort on the occasion

Prime Minister Narendra Modi addressing the nation from the ramparts of the Red Fort on the occasion

BSF and PAK Rangers perform a flag-lowering ceremony during the beating of the retreat ceremony on..

BSF and PAK Rangers perform a flag-lowering ceremony during the beating of the retreat ceremony on..

BSF and PAK Rangers during the beating of the retreat ceremony on the occasion of independence day..

BSF and PAK Rangers during the beating of the retreat ceremony on the occasion of independence day..

Maharashtra Tourism Development Corporation organised a laser show at Gate of India during the ...

Maharashtra Tourism Development Corporation organised a laser show at Gate of India during the ...

A young boy runs with a national flag as a flock of pigeons is seen at the front, on the eve of ...

A young boy runs with a national flag as a flock of pigeons is seen at the front, on the eve of ...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.