As leading economies weaken – India on firm footing : OECD

INVindAccording to the Paris based Organisation for Economic Cooperation and Development (OECD), their monthly composite leading indicators show that there is a loss of momentum in the US, UK and China, an easing of growth in Japan and Canada, weak growth momentum in Brazil and Russia.

India, however is firming up and is set to cross into the above average zone.

The Reserve Bank of India now expects the economy to expand 7.4 percent in FY 16, barely ahead of 7.3 percent last year.

In its assessment released this week, the IMF pegged India’s growth at 7.3 percent, the same as last year.