Indian economy's 2016-17 growth reduced to 7%
Tuesday, February 28, 2017, 5:17 PM
OECD cut its growth forecast for the Indian economy to 7 per cent from 7.4 per cent earlier due to demonetisation. According to the OECD, lowering of debt to GDP ratio, which stood at 69 per cent in 2015-16, will require some fiscal tightening. The OECD also suggested establishment of an independent fiscal council would improve the government's credibility and accountability.