OECD projects India’s GDP at -10.2% in FY21 & 10.7% in FY22

The Organisation for Economic Cooperation and Development (OECD) expects the Indian economy to contract by 10.2% in FY21 (2020-21) as compared to its previous estimate of 16.7% in June.
For FY22 (2021-22), the Paris-based OECD projects India’s gross domestic product (GDP) to grow at 10.7%.
OECD expects the global GDP at -4.5% in 2020, which is an upward revision from its previous estimate of -6%.
For the year 2021, the global economy is estimated to increase by 5%.