India's economic growth is projected to remain “strong and stable“ at 7.3% in 2015 on the back of revival in investments even as more reforms are needed to reduce uncertainties over taxation norms, Paris-based think tank OECD has said.
Projecting a higher growth rate of 7.4% for 2016, OECD said decline in oil prices would reduce pressures on the current account deficit, inflation and subsidies. The think tank's projection came a day after the Reserve Bank of India (RBI) flagged concerns about monsoon and inflation that would have an impact on economic growth.Releasing its latest Economic Outlook report, it said that India's economic growth will remain high, supported by a revival in investment.
Projecting a higher growth rate of 7.4% for 2016, OECD said decline in oil prices would reduce pressures on the current account deficit, inflation and subsidies. The think tank's projection came a day after the Reserve Bank of India (RBI) flagged concerns about monsoon and inflation that would have an impact on economic growth.Releasing its latest Economic Outlook report, it said that India's economic growth will remain high, supported by a revival in investment.
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