OECD scaled down India’s Growth Rate at 5.3 Percent

The Organisation for Economic Co-operation and Development (OECD) scaled down India’s Growth Rate at 5.3 Percent.

The Organisation for Economic Co-operation and Development (OECD), on 29 May 2013 scaled down India’s growth estimate to 5.3 per cent for 2013 from 5.9 per cent. The report warned that investment and growth potential could face constraints because of structural set up. However, the report stated that GDP growth is likely to rise gradually over the next two years. The report added that growth will gradually recover in 2013.

The OECD further forecasted that China’s economy would grow 7.8 per cent in 2013, lower from a previous estimate of 8.5 per cent.

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