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Chart of the Day | OECD says long-run costs of pandemic highest for India

Despite a strong rebound, the loss of potential output likely to be very high for India 

March 10, 2021 / 09:47 AM IST
Chart of the Day | OECD says long-run costs of pandemic highest for India

Image: Reuters

The Organisation for Economic Co-operation and Development (OECD) has revised its GDP projections upwards, thanks to the recovery turning out to be better than expected. The global economy is predicted to grow 5.6 percent in 2021, after contracting by 3.4 percent in 2020. The projected growth for the current year has been revised up by 1.4 percentage points from the OECD’s earlier estimate, made last December. The OECD estimates that the Indian economy will shrink by 7.4 percent in FY21,...

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