Organisation for Economic Cooperation
(OECD) in a report said India is the “only major economy” that is projected to
see a pick-up in growth momentum whereas mixed trends are predicted for the
developed world.
In September, CLI for India touched
99.1, the highest since May this year when it stood at 98.6. In August, it was
at 99, Paris-based think tank said.
Most of the major economies, developed
and developing, including the United States, Brazil, China and Russia, are
expected to witness stable growth momentum.
However, it said indicators point to
weak growth in Europe. OECD added that CLI points to growth losing traction in
Japan even though such a trend may be related to one-off factors.
Last month, the International Monetary
Fund and the World Bank projected 5.6 per cent growth rate for India this year,
citing renewed confidence in the market due to a series of economic reforms
pursued by the new government.
India's economic growth was below 5 per
cent in the last two financial years. Recently, the Reserve Bank of India (RBI)
forecast Indian economy to grow at 5.5 per cent in 2014-15 and at 6.3 per cent
in next financial year 2015-16.
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