Organisation for Economic Co-operation and Development (OECD)

Context

The Organisation for Economic Co-operation and Development (OECD) has raised its growth forecast for India to 7.1% for 2026–27, from its earlier estimate of 6.3%.

About OECD

1. The OECD is an international organisation concerned with economic development, prosperity and well-being.
2. It succeeded the Organisation for European Economic Co-operation (OEEC), which was associated with administering Marshall Plan assistance after the Second World War.
3. The OECD Convention was signed on 14^th December 1960 by 18 European countries, the United States and Canada and entered into force on 30 September 1961.
4. It currently has 38 members.
5. Headquarters: Paris, France.

Areas of Work

The OECD works across areas such as:

1. Trade and industry
2. Agriculture
3. Environmental protection
4. Sustainable development
5. Bribery and financial crime
6. Uncooperative tax jurisdictions

Institutional Structure

1. OECD Council: Main decision-making body.
2. Secretariat: Supports the organisation’s institutional and analytical work.
3. Specialised committees: Examine specific policy areas.

The organisation produces economic reports, statistics, analyses and forecasts for comparative assessment and policy evaluation.

Major Publications

1. OECD Economic Outlook: Covers economic developments and forecasts.
2. PISA: Provides international assessment of student performance.
3. Health at a Glance: Presents comparative health indicators.
4. Country Peer Review Reports: Examine policies and institutional performance.

India and OECD

India is a non-member economy of the OECD and has maintained a working relationship with the organisation. It has been an OECD Key Partner since 2007.

FAQs

Q1. What is the general character of OECD member countries?

OECD members are generally democratic countries with market-oriented economies.

Q2. Does the OECD have direct enforcement powers?

No. The OECD primarily works through consultation, recommendations, peer review, cooperation, conferences, seminars and publications.

Q3. How does the OECD address tax-related concerns?

It has worked against uncooperative tax jurisdictions, including through a list of jurisdictions considered uncooperative tax havens.

Q4. What is PISA?

PISA (Programme for International Student Assessment) is an OECD assessment used for international comparison of student performance.

Q5. What is the OECD Economic Outlook?

It is a major OECD publication providing economic assessments and forecasts.