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OECD ups FY21 growth forecast

The Organisation of Economic Cooperation and Development (OECD) on Tuesday revised upwards India’s GDP contraction for 2020-21 to -9.9% from the previous -10.2%, saying the economy is recovering, albeit with some hesitancy, after emerging from the world’s tightest lockdown and recording the deepest GDP contraction among G20 economies in the second quarter.

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