Press Esc to close
Saturday 10 December 2016
News updated at 12:20 PM IST
Weather
Max: 30.3°C
Min : 16.2°C
In Bengaluru
clear sky

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

Brunei/New Delhi/Washington, Oct 8, 2013, PTI:
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
The super yacht Indian Empress, owned by fugitive Indian businessman Vijay Mallya...

The super yacht Indian Empress, owned by fugitive Indian businessman Vijay Mallya...

Students of Metagalli JSS Highschool forms India map during Bharath Matha Pooja programme...

Students of Metagalli JSS Highschool forms India map during Bharath Matha Pooja programme...

Artistes perform during the International Gita Mahotsav-2016 in Kurukshetra...

Artistes perform during the International Gita Mahotsav-2016 in Kurukshetra...

Tibetan spiritual leader, the Dalai Lama at the inauguration of a four-day seminar on legacy...

Tibetan spiritual leader, the Dalai Lama at the inauguration of a four-day seminar on legacy...

Two rats gather in a shrub at the Saint Jacques Tower park, in the center of Paris...

Two rats gather in a shrub at the Saint Jacques Tower park, in the center of Paris...

A wrecked bus after meeting with an accident on the Delhi-Agra National highway due to fog...

A wrecked bus after meeting with an accident on the Delhi-Agra National highway due to fog...

Smoke rises from the house where two Lashkir-e-Toiba (LeT) militants were hiding...

Smoke rises from the house where two Lashkir-e-Toiba (LeT) militants were hiding...

Huge cash seized by the Income Tax department after it conducted searches in Chennai...

Huge cash seized by the Income Tax department after it conducted searches in Chennai...

The carcass of elephant Sidda being shifted in a lorry for the burial at the Manchanbele dam...

The carcass of elephant Sidda being shifted in a lorry for the burial at the Manchanbele dam...

A heater is placed in the enclosure of a tiger to keep big cat warm during cold day at Sanjay...

A heater is placed in the enclosure of a tiger to keep big cat warm during cold day at Sanjay...

Like us on Facebook

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523