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OECD
Context:
The Organization for Economic Co-operation and Development has increased India’s growth forecast by 40 basis points to 6.6% for 2024-25.
About:
- OECD is an international organisation consisting of 38 member countries.
- The members are high-income countries with very high Human Development Index (HDI) rankings.
- It is recognised as a think tank.
- It is an official observer of the United Nations
- Headquarters: Paris (France)
- India is not a member of the OECD.
Historical Background:
- The Organisation for European Economic Co-operation (OEEC) was established in 1948 to administer the Marshall Plan for the economic reconstruction of Europe after World War II.
- In 1961, it was renamed OECD after the United States and Canada joined the group.
- The OECD Convention was signed in December 1960 and entered into force on September 30, 1961.
Objectives:
- Promoting global trade and work towards sustainable economic growth, enhancing the standard of living of people living in member countries.
- Maintain financial stability and contributing to the development of the world economy.
Reports:
- Tax Transparency Report
