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<keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">Economic growth</keyword> in most emerging market <keyword id="19985205" type="General" weightage="20" keywordseo="G20" source="keywords">G20</keyword> economies, including <keyword id="19895063" type="General" weightage="100" keywordseo="India" source="keywords">India</keyword>, is expected to remain stable, the Organisation for Economic Co-operation (<keyword id="19916574" type="General" weightage="20" keywordseo="OECD" source="keywords" meta.keywordsubtype="org" meta.entityname="OECD" meta.hostid="261" meta.entityid="OECD">OECD</keyword>) noted in its latest report. The Paris-based research body also said that the booming <keyword id="19965934" type="General" weightage="20" keywordseo="domestic-demand" source="keywords">domestic demand</keyword> growth currently being seen in economies like India and Indonesia will continue. "Solid domestic demand growth is projected to continue in India and Indonesia over the next two years," said the OECD report. OECD has also upwardly revised India's <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> by 10 basis points and has pegged at 6.7% in 2024-25 and by 20 basis points for 2025-26 at 6.8%. These projections are much in line with that of Chief Economic Advisor (CEA) to the Union government, V Anantha Nageswaran. Last week, Nageswaran highlighted that the Indian economy is expected to grow at a rate of 6.5-7 % in the current financial year on a steady state basis. Per him, this growth rate is commendable, given the current global scenario. Per CEA, there is no vulnerability in the current account balance of the country, with domestic financial markets and the banking system in good health. "The macro indicators signal stability. There has been a massive shift in capital expenditure, declining external debt to GDP ratio and lower retail <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword>," Nageswaran said. At the same time, India needs to generate productive employment, ensure food security, ease regulatory bottlenecks for the MSMEs and ensure efficient financial resource allocation, since MSME sector is the key to non-farm job creation, and small and medium firms need to graduate into large enterprises to absorb more labour. What was also the need of the hour was also to ensure greater participation of women in the workforce. Nageswaran also added that while the economy will grow at 6.5% in real terms, but the nominal rate of growth will be far more at 11 %, post taking inflation into account. India's GDP grew by an impressive 8.2 % during the financial year 2023-24, making it the fastest-growing major economy. The country grew by 7.2 % in 2022-23 and 8.7 % in 2021-22. Many global rating agencies and multilateral organizations have also revised India's growth forecasts upwards. <h2 style="box-sizing: inherit; margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">Indonesia, Brazil to also maintain growth momentum </h2>Meanwhile, Indonesia is projected to grow by 5.1 % in 2024 and 5.2 % in 2025. In China, the growth is expected to be supported through the second half of 2024, largely due to an increase in government spending following a recent rise in local government bond issuance. "Even so, the protracted correction in the real estate sector is anticipated to continue and inadequate social safety nets and soft consumer confidence will remain a drag on private consumption growth, with GDP growth projected to be 4.9 % in 2024 and 4.5 % in 2025," the OECD report read. Brazil is also anticipated to maintain some of the solid economic momentum observed through the first half of 2024, helped by higher fiscal spending. In September, the country's central bank hiked the interest rate, also known as Selic, by 25 basis points, taking it to 10.75% from the previous 10.5% While growth has also been relatively robust in many G20 countries including the United States and United Kingdom, aggregate <keyword id="19979707" type="General" weightage="20" keywordseo="consumer-price-inflation" source="keywords">consumer price inflation</keyword> for these economies is projected to decline markedly, helped by lower commodity prices and easing service price inflation as labour cost pressures moderate. Headline inflation in the G20 is projected to fall from 6.1 % in 2023, to 5.4 % in 2024 and 3.3 % in 2025. "Inflation in the emerging-market economies is projected to remain generally higher than in the advanced economies, while also easing gradually," the OECD report added. However, inflation is projected to be back to target in most G20 countries by the end of 2025, OECD said.

India to see solid domestic demand for the next 2 years, to grow at the rate of 6.5%-7%

India is the fastest-growing economy in the world, growing at around 7.5% annually. While Finance Minister Arun Jaitley has asked the investors around the world to make <a href="http://www.businessinsider.in/Chinas-loss-can-be-Indias-gain/articleshow/52520080.cms">good use of this opportunity </a>by investing in <keyword id="6356076" type="UNKNOWN" weightage="100" keywordseo="indian-economy">Indian economy</keyword>, there is another reason to rejoice. 
 
Paris-based Organisation for Economic Cooperation and Development (OECD) has said that this "solid" growth led by strong investment will continue, and reforms to bolster infrastructure spending and robust demand growth will help it expand further. 
 
The outlook was released a day after data showed that Indian economy grew at 7.6% in 2015-16, while economists expect it to grow 7.9% in the coming year. 
 
However, the OECD has cautioned about the mounting non-performing loans in the banking sector, which are on rise in India and several other countries. 
 
The report further said that these loans add to "moral hazard", and a long period of fostering them would prevent resource reallocation from non-viable firms, which would lay negative impact on productivity and employment growth. 
 
"If inflation continues to decline, the monetary authorities could cut interest rates in 2017, while further steps should be taken to improve monetary policy transmission," it said. 
 
The organisation then went ahead to recommend Indian authorities that they should continue to reduce budget deficit via improved tax mobilisation, and spend more money towards physical and social infrastructure. 
 
On the global front, the organisation has projected that the global economy will grow only 3% in 2016 because of weak trade growth, sluggish investment and slower activity. This will however, improve to 3.3% in 2017. 
 
<a href="http://wonkhe.com/wp-content/uploads/2015/01/wonkhe-oecd-office-.jpg">Image source</a>

Indian economy will continue to grow at around 7.5%, says OECD global economic outlook

Indians are not shying away from taking up citizenship of other countries and India is on the top of the list of origin countries of naturalised citizens across the world. As per a report- ‘International <keyword id="56025" type="ORGANIZATION" weightage="20" keywordseo="Migration">Migration</keyword> Outlook (2017)’- released by Organisation of Economic Co-operation and Development (OECD) in Paris, <keyword id="6402673" type="ORGANIZATION" weightage="20" keywordseo="Indian-Diaspora">Indian diaspora</keyword> is not apprehensive of acquiring foreign citizenship. In 2015, 1.30 lakh Indians, consisting mostly expatriates on work visas, acquired citizenship of OECD member countries. Meanwhile, India was followed by (1.12 lakh) and the Philippines (94,000). China came fifth with 78,000 opting to relinquish their citizenship. The report mentioned that in 2015, just over 20 lakh people acquired the nationality of an OECD country. This was slightly above (3%) the 2014 figure, even as it remains within the OECD average of the past 10 years. China retained its top position when it came to new immigrants to OECD countries. As per the findings of the report, US, Canada, UK, Australia and Germany continued to be the preferred destinations of Indian migrants. Both China and India continued to be the major source countries for international students. OECD is a global thinktank of 35 member countries, which include European countries, USA, Canada, Australia, New Zealand and Japan. An earlier <keyword id="845221" type="UNKNOWN" weightage="20" keywordseo="OECD-report">OECD report</keyword> had pointed out that India had the world's largest diaspora with 156 lakh migrants.

Indians are acquiring nationalities of other nations like never before; top the foreign citizenship list

India saw 86 percent of its money disappear overnight, taking that into account, our economy is shockingly pliant. 
 India's <keyword id="6354971" type="PERSON" weightage="20" keywordseo="Gross-Domestic-Product">Gross Domestic Product</keyword> (GDP) developed at a rate of 7% in the October-December quarter of the fiscal year 2016-17 subsequent to calculating the note ban impact. <keyword id="44910" type="UNKNOWN" weightage="20" keywordseo="GDP-growth">GDP growth</keyword> was 7.3 percent in the previous quarter. 
 Chief Economic Adviser <keyword id="6355547" type="PERSON" weightage="20" keywordseo="Arvind-Subramanian">Arvind Subramanian</keyword> last month said the official GDP figures may not completely reflect the "real and significant hardships" experienced by the informal sector, in which an expected nine out of 10 Indian workers are employed. 
 
But the pain, according to Centre, will be short-lived. 
 Earlier, Paris-based think tank <keyword id="6356984" type="ORGANIZATION" weightage="20" keywordseo="OECD">OECD</keyword> today cut India's growth forecast to 7 per cent for 2016-17 in view of <keyword id="3315394" type="UNKNOWN" weightage="20" keywordseo="demonetisation">demonetisation</keyword>, but said the pace will accelerate to 7.3 per cent in the next fiscal. 
 
The Organisation for Economic Cooperation and Development (OECD) had in February last year projected the country's economy to expand at 7.4 per cent in 2016-17. "India has been a star performer in gloomy times. We do not have many cases of 7 per cent growth... It is a top reformer among all the G-20 countries," said OECD Secretary-General <keyword id="151705" type="PERSON" weightage="20" keywordseo="Angel-Gurria">Angel Gurria</keyword>. 
 
The association estimates the country's economic growth to rise further to 7.7 percent in 2018-19.

GDP growth outplays 'Demonetisation' worry, 7% growth in Q3

<div class="KonaFilter image-container display-table"><div><div class="image on-image">OECD</div></div></div><ul><li>The OECD on Thursday released a warning to the global <keyword id="34412" type="ORGANIZATION" weightage="60" keywordseo="economy">economy</keyword> - GDP growth is going to drop, and it's up to governments to stop fighting to fix it. </li><li>In a statement, the OECD said that world GDP growth this year is expected to fall to 2.9%, "its lowest annual rate since the financial crisis," and is expected to hover at that level in 2020 and 2021. </li><li>The OECD highlighted the US-China trade war as the reason for this decline. </li><li><a href="https://businessinsider.com">View Business Insider's homepage for more stories. </a></li></ul>The Organisation for Economic Cooperation and Development (OECD) on Thursday released a warning for the global economy - GDP growth is going to drop, and it's up to governments to stop fighting to fix it. In its latest <a href="https://www.oecd.org/newsroom/economic-outlook-weak-trade-and-investment-threaten-long-term-growth.htm">economic outlook</a>, the OECD said that world GDP growth this year is expected to fall to 2.9% - "its lowest annual rate since the financial crisis," and is expected to hover around that level through 2020 and 2021.The OECD blamed a lack of trade for the economy slowing, saying that "bold action is needed" in order to solve high levels of business uncertainty."Governments must work together urgently to boost investment and establish fair international rules on taxation and trade," the OECD said in a statement on Thursday. The OECD highlighted the US-China trade war as the reason for this decline."Two years of escalating conflict over tariffs, principally between the US and China, has hit trade, is undermining business investment and is putting jobs at risk," the Paris based organization said."It would be a mistake to consider these changes as temporary factors that can be addressed with monetary or fiscal policy: they are structural," said OECD Chief Economist Laurence Boone in the statement. "Without coordination for trade and global taxation, clear policy directions for the energy transition, uncertainty will continue to loom large and damage growth prospects."Earlier this week, <a href="https://www.businessinsider.com.au/goldman-sachs-charts-show-damage-of-us-china-trade-war-trump-tariffs-2019-11">Goldman Sachs released a series of charts</a> showing the impact on GDP in both the US and America on the effects of the trade war - both sides had taken a hit, China more so. <a href="https://markets.businessinsider.com/news/stocks/maersk-q3-trade-war-brexit-hurting-growth-unlikely-to-pick-up-in-2020-2019-11-1028692368">Maersk</a>, the world's largest shipping company, warned that the global trade slump is likely to stay in 2020, echoing the OECD.The OECD also highlighted in its report that certain countries will struggle. Countries including the US, India, and Argentina saw GDP projections revised lower this year, while 2020 growth projections in Europe, Saudi Arabia and Indonesia dropped. The OECD warned that "any further escalation of the trade conflict would disrupt supply networks and weigh on confidence, jobs, and incomes." <div class="KonaFilter image-container display-table"><div><div class="image on-image">OECD</div></div></div><a href="https://www.businessinsider.com/intelligence/10-up-and-coming-fintechs-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=finance&amp;itm_campaign=10-up-and-coming-fintechs-2019-2"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/economist-weighted-voting-could-help-save-us-democracy-2018-5">This top economist has a radical plan to change the way Americans vote - weighted voting</a></h3> <div> </div> </div>

This chart shows how hard Trump's trade war is hammering global growth

New Delhi, Mar 19 () The International Chamber of Commerce (ICC) Paris on Thursday appealed to the government to provide relief measures to businesses and borrowers hit by COVID-19 (coronavirus) outbreak. The chamber's President Vikramjit Singh Sahney said OECD (Organisation for Economic Co-operation and Development) has estimated that dip in global growth may lead to recession, and India is already struggling with an economic slowdown. The outbreak of the virus can deepen the crisis, he said in a statement. "I appeal to the government to provide relief to businesses and borrowers hit by coronavirus disease," Sahney said. "With markets crashing, many sectors of the economy will be hit badly such as tourism, hospitality, manufacturing, trading, auto sector, therefore, government should immediately advise banks for moratorium to the borrowers for three months period on repayment of loans without declaring them defaulters," he added. This is imperative to tackle the cascading impact of slowdown on demand, he said. Precautionary measures of reduced mobility and distancing will have negative impact on demand, income generation, factory output, retail and services, he added. RR RVK

ICC appeals govt to provide relief to businesses amid COVID-19 outbreak

<div class="image-container float_right" style="width:480px"><div class="image">REUTERS/Tullow <keyword id="6359072" type="CITY" weightage="60" keywordseo="oil">Oil</keyword> Uganda</div></div>The IEA revised its June demand forecast for US oil product consumption up 235,000 barrels a day, indicating four of the first six months of the year saw gains.
That's the strongest sequential reading since 2011.
<a href="http://www.iea.org/newsroomandevents/news/2013/august/name,42443,en.html">In its new report today</a>, the Paris-based group also revised its full-year U.S. consumption forecast to +0.3% from 0.0%.
But the momentum will not continue into 2014, it says:
Despite this revision, which takes stock of the latest uptick in delivery patterns US demand remains projected to edge down over the medium term. Remarkably, while the US demand outlook for 2013 looks more upbeat, the IMF in its July World Economic Outlook has reduced its forecast of US GDP growth for 2014, to 2.7% from 3.0% in the April WEO. That adjustment, coupled with our own assessment of relatively high efficiency gains in 2014, bolsters the forecast of a 0.2% demand decline. 
The agency also cut its global demand figures, with 2013 seeing a drop off of -30,000 barrels to +895,000 a day, and 2014 -100,000 to +1.1 million barrels a day, based on lower GDP forecasts from the IMF. Japan is expected to see declines as it eases back into nuclear following the Fukushima disaster.
Emerging-market demand will have overtaken OECD demand by the end of the year, it says, with sluggishness in China and India getting outweighed by booming demand in Latin American and former Soviet Union countries.
The report didn't have much to say on the effects of US shale production. It forecasts a +400,000 shale oil production gain to about 2.6 million barrels a day for 2H2013, with North Dakota reaching 900,000 barrels a day.

The IEA Just Cut Its Forecasts For Global Oil Demand

<div class="KonaFilter image-container"><div class="image on-image">AP</div></div> 
American adults out-performed by many global peers on workplace skills assessment test
WASHINGTON (AP) - It's long been known that America's school kids haven't measured well compared with international peers. Now, there's a new twist: Adults don't either.
In math, reading and problem-solving using technology - all skills considered critical for global competitiveness and economic strength - American adults scored below the international average on a global test, according to results released Tuesday.
Adults in Japan, Canada, Australia, Finland and multiple other countries scored significantly higher than the United States in all three areas on the test. Beyond basic reading and math, respondents were tested on activities such as calculating mileage reimbursement due to a salesman, sorting email and comparing food expiration dates on grocery store tags.
Not only did Americans score poorly compared to many international competitors, the findings reinforced just how large the gap is between the nation's high- and low-skilled workers and how hard it is to move ahead when your parents haven't.
In both reading and math, for example, those with college educated parents did better than those whose parents did not complete high school.
The study, called the Program for the International Assessment of Adult Competencies, found that it was easier on average to overcome this and other barriers to literacy overseas than in the United States.
Researchers tested about 157,000 people ages 16 to 65 in more than 20 countries and subnational regions. It was developed and released by the Organization for Economic Cooperation and Development, which is made up of mostly industrialized member countries. The Education Department's Center for Education Statistics participated.
The findings were equally grim for many European countries - Italy and Spain, among the hardest hit by the recession and debt crisis, ranked at the bottom across generations. Unemployment is well over 25 percent in Spain and over 12 percent in Italy. Spain has drastically cut education spending, drawing student street protests.
But in the northern European countries that have fared better, the picture was brighter - and the study credits continuing education. In Finland, Denmark, and the Netherlands, more than 60 percent of adults took part is either job training or continuing education. In Italy, by contrast, the rate was half that.
As the American economy sputters along and many people live paycheck-to-paycheck, economists say a highly-skilled workforce is key to economic recovery. The median hourly wage of workers scoring on the highest level in literacy on the test is more than 60 percent higher than for workers scoring at the lowest level, and those with low literacy skills were more than twice as likely to be unemployed.
"It's not just the kids who require more and more preparation to get access to the economy, it's more and more the adults don't have the skills to stay in it," said Anthony Carnevale, director of the Georgetown University Center on Education and the Workforce.
Education Secretary Arne Duncan said in a statement the nation needs to find ways to reach more adults to upgrade their skills. Otherwise, he said, "no matter how hard they work, these adults will be stuck, unable to support their families and contribute fully to our country. "
Among the other findings:
-Americans scored toward the bottom in the category of problem solving in a technology rich environment. The top five scores in the areas were from Japan, Finland, Australia, Sweden and Norway, while the U.S. score was on par with England, Estonia, Ireland and Poland. In nearly all countries, at least 10 percent of adults lacked the most basic of computer skills such as using a mouse.
-Japanese and Dutch adults who were ages 25 to 34 and only completed high school easily outperformed Italian or Spanish university graduates of the same age.
-In England, Germany, Italy, Poland, and the United States, social background has a big impact on literacy skills, meaning the children of parents with low levels of education have lower reading skills.
America's school kids have historically scored low on international assessment tests compared to other countries, which is often blamed on the diversity of the population and the high number of immigrants. Also, achievement tests have long shown that a large chunk of the U.S. student population lacks basic reading and math skills - most pronounced among low-income and minority students.
This test could suggest students leaving high school without certain basic skills aren't obtaining them later on the job or in an education program.
The United States will have a tough time catching up because money at the state and local level, a major source of education funding, has been slashed in recent years, said Jacob Kirkegaard, an economist with the Peterson Institute for International Economics.
"There is a race between man and machine here. The question here is always: Are you a worker for whom technology makes it possible to do a better job or are you a worker that the technology can replace?" he said. For those without the most basic skills, he said, the answer will be merciless and has the potential to extend into future generations. Learning is highly correlated with parents' education level.
"If you want to avoid having an underclass - a large group of people who are basically unemployable - this educational system is absolutely key," Kirkegaard said.
Dolores Perin, professor of psychology and education at Teachers College, Columbia University, said the report provides a "good basis for an argument there should be more resources to support adults with low literacy."
Adults can learn new skills at any age and there are adult-geared programs around the country, Perin said. But, she said, the challenge is ensuring the programs have quality teaching and that adults regularly attend classes.
"If you find reading and writing hard, you've been working hard all day at two jobs, you've got a young child, are you actually going to go to class? It's challenging," Perin said.
Some economists say that large skills gap in the United States could matter even more in the future. America's economic competitors like China and India are simply larger than competitors of the past like Japan, Carnevale said. Even while America's top 10 percent of students can compete globally, Carnevale said, that doesn't cut it. China and India did not participate in this assessment.
"The skills in the middle are required and we're not producing them," Carnevale said.
Respondents were selected as part of a nationally represented sample. The test was primarily taken at home using a computer, but some respondents used a printed test booklet.
Among the other findings:
-Japan, Finland, Canada, Netherlands, Australia, Sweden, Norway, Flanders-Belgium, Czech Republic, Slovak Republic, and Korea all scored significantly higher than the United States in all three areas on the test.
-The average scores in literacy range from 250 in Italy to 296 in Japan. The U.S. average score was 270. (500 was the highest score in all three areas.) Average scores in 12 countries were higher than the average U.S. score.
-The average scores in math range from 246 in Spain to 288 in Japan. The U.S. average score was 253, below 18 other countries.
-The average scores on problem solving in technology-rich environments scale for adult ranged from 275 in Poland to 294 in Japan. The U.S. average score was 277, below 14 other countries.
_____
Online: <a href="http://www.oecd.org/site/piaac/publications.htm">http://www.oecd.org/site/piaac/publications.htm</a>
_____
Follow Kimberly Hefling at <a href="http://www.twitter.com/khefling">http://www.twitter.com/khefling</a>
_____
Lori Hinnant contributed to this report from Paris.
<div class="nc_footer">
Copyright (2013) Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
</div>

You Searched For "OECD paris india" and got 9 results

India to see solid domestic demand for the next 2 years, to grow at the rate of 6.5%-7%

BI India Bureau

Indian economy will continue to grow at around 7.5%, says OECD global economic outlook

BI India Bureau

Indians are acquiring nationalities of other nations like never before; top the foreign citizenship list

BI India Bureau

GDP growth outplays 'Demonetisation' worry, 7% growth in Q3

BI India Bureau

This chart shows how hard Trump's trade war is hammering global growth

Yusuf Khan

ICC appeals govt to provide relief to businesses amid COVID-19 outbreak

PTI

The IEA Just Cut Its Forecasts For Global Oil Demand

Rob Wile

US Adults Score Below Average On Worldwide Competency Test

Kimberly Heffling, Associated…

A forgotten war technology could safely power Earth for millions of years. Here's why we aren't using it

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