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INDIA - OECD.org
3. DEVELOPMENTS IN INDIVIDUAL OECD AND SELECTED NON-MEMBER ECONOMIESOECD ECONOMIC outlook , VOLUME 2018 ISSUE1 PRELIMINARY VERSION OECD 2018158 INDIAG rowth is increasing, making INDIA the fastest-growing G20 economy. Investmentand exports, supported by the smoother implementation of the new goods and servicestax (GST), are becoming major growth engines. Inflation will hover within the targetband, with upside risks reflecting rising oil prices and an increase in housing allowancefor public employees. The current account deficit will increase. Job creation in the formalsector will remain sluggish, leaving the vast majority of workers in low-productivity,low-paid and monetary policies are projected to remain broadly neutral. To reduce therelatively high public debt-to-GDP ratio, containing contingent fiscal liabilities is key,including through better governance of public enterprises. Better risk assessment inbanks would allow allocating financial resources to the best projects and avoiding a newincrease in non-performing loans.
3. DEVELOPMENTS IN INDIVIDUAL OECD AND SELECTED NON-MEMBER ECONOMIES 158 OECD ECONOMIC OUTLOOK,VOLUME 2018 ISSUE1–PRELIMINARY VERSION © OECD 2018 INDIA Growth is increasing, making India the fastest-growing G20 economy.
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