India’s Gross Domestic Product Projected To Expand By 12.6 %

India’s Gross Domestic Product Projected To Expand By 12.6 %. During the Country’s Fiscal Year Starting in April, according to a Forecast Released Tuesday By the Organization for Economic Cooperation and Development (OECD).

If that Level of Growth is realized, it would allow India to reclaim its status as the Fastest Growing Major Economy — Stealing the Title Back from China, Which the OECD Expects will deliver Growth Of 7.8% this Calendar Year after Dodging a Recession in 2020.

India’s economy recorded a rise In Gross Domestic Product Of 0.4% in the final Three Months Of 2020, ending Its Recession. For 2020 as a Whole, the Indian Economy Contracted by about 7%.

Meanwhile, China Faces Huge Climate and Tech Issues in Its bid for Global Leadership

The Paris-Based Agency, OECD Also Said There Were Signs That Recent Containment Measures Weren’t Hurting The Economy As Much As Earlier Efforts.

The OECD Now Expects The World Economy To Grow By 5.6% In 2021, An Improvement Of More Than One Percentage Point From Its Estimate In December.

US Could Grow By 6.5%

The United States’ Economy is now Expected to Expand By 6.5% this Year, Over three Percentage Points Better than the December Forecast. The Agency Pointed to the Effects Of “Strong Fiscal Support” From President Joe Biden’s $1.9 Trillion Stimulus Package.

The 19 Countries That Use the Euro are Expected To See Output Expand By 3.9%. The UK Economy, Which Suffered a Bigger Hit than Its European Neighbors In 2020, Will Grow By 5.1%.

It also addressed the Debate over Inflation that’s Rattled Markets. Investors have become Increasingly Concerned that A Strong Recovery Could Trigger A Spike in Prices Later This Year, Forcing Central Banks To Raise Interest Rates Or Taper Bond Purchases Sooner Than Expected.

The OECD Acknowledged That Price Pressures Are Building On Some Fronts.

“A Faster-Than-Expected Recovery in Demand, especially from China, Coupled With Shortfalls in Supply, Has Pushed Up Food And Metals Prices Considerably, And Oil Prices Have Rebounded To Their Average Level In 2019,” It Said.