PTI, London :
Paris-based think tank Organisation for Economic Co-operation and Development (OECD) Thursday said India’s economic expansion continues to firm up even as growth is easing in the neighbouring China.
The projection comes on a day when the country’s credit rating outlook has been upgraded to ‘positive’ by global agency Moody’s.
The think tank’s assessment is based on its Composite Leading Indicators (CLIs) that are designed to anticipate turning points in economic activity relative to trend.
According to the Organisation for Economic Cooperation and Development (OECD), growth is firming up in India.
“CLIs signal growth easing in China and Canada, albeit from relatively high levels. In Brazil and Russia, CLIs point to a loss in growth momentum while in India, the CLI continues to indicate firming growth,” it said in a statement.
India’s CLI has been on the rise since October 2014 and touched 99.5 in February this year.
On the basis of new GDP series, the Indian economy is estimated to grow at 7.4 per cent this fiscal. This would also make India the fastest growing large economy in the world.
In 2015-16, Gross Domestic Product (GDP) growth is pegged at 8-8.5 per cent.
Paris-based think tank Organisation for Economic Co-operation and Development (OECD) Thursday said India’s economic expansion continues to firm up even as growth is easing in the neighbouring China.
The projection comes on a day when the country’s credit rating outlook has been upgraded to ‘positive’ by global agency Moody’s.
The think tank’s assessment is based on its Composite Leading Indicators (CLIs) that are designed to anticipate turning points in economic activity relative to trend.
According to the Organisation for Economic Cooperation and Development (OECD), growth is firming up in India.
“CLIs signal growth easing in China and Canada, albeit from relatively high levels. In Brazil and Russia, CLIs point to a loss in growth momentum while in India, the CLI continues to indicate firming growth,” it said in a statement.
India’s CLI has been on the rise since October 2014 and touched 99.5 in February this year.
On the basis of new GDP series, the Indian economy is estimated to grow at 7.4 per cent this fiscal. This would also make India the fastest growing large economy in the world.
In 2015-16, Gross Domestic Product (GDP) growth is pegged at 8-8.5 per cent.
