OECD sees pickup in India economic growth
momentum
12/08/2014 16:31
The Organization for Economic Cooperation and Development (OECD) said that its composite leading index for India signals a pickup in growth momentum in Asia’s third biggest economy as business sentiment revives amid hopes that the new government led by BJP leader Narendra Modi may live up to its promises of undertaking broad-based reforms and reviving investment.
The composite leading indicator for India, designed to anticipate turning points in economic activity relative to trend, climbed to 99.2 in June from 98.9 in the month of May, but below the long-run average of 100, Paris-based OECD said in a report on Monday.
"For the major emerging economies, the CLIs indicate growth around trend in China and Russia and below trend in Brazil, while the CLI for India points to growth gaining momentum," OECD said in a statement.
The Indian economy, which has grown below the 5 per cent mark for the past two fiscal years, is expected to pick up pace in the coming months.
The Economic Survey pegged India’s economic growth rate for FY 2014-15 at 5.4 per cent to 5.9 per cent.
The new government has unveiled several measures to boost growth including eliminating infrastructure bottlenecks and accelerating investment.
12/08/2014 16:31
The Organization for Economic Cooperation and Development (OECD) said that its composite leading index for India signals a pickup in growth momentum in Asia’s third biggest economy as business sentiment revives amid hopes that the new government led by BJP leader Narendra Modi may live up to its promises of undertaking broad-based reforms and reviving investment.
The composite leading indicator for India, designed to anticipate turning points in economic activity relative to trend, climbed to 99.2 in June from 98.9 in the month of May, but below the long-run average of 100, Paris-based OECD said in a report on Monday.
"For the major emerging economies, the CLIs indicate growth around trend in China and Russia and below trend in Brazil, while the CLI for India points to growth gaining momentum," OECD said in a statement.
The Indian economy, which has grown below the 5 per cent mark for the past two fiscal years, is expected to pick up pace in the coming months.
The Economic Survey pegged India’s economic growth rate for FY 2014-15 at 5.4 per cent to 5.9 per cent.
The new government has unveiled several measures to boost growth including eliminating infrastructure bottlenecks and accelerating investment.
