Asian Development Bank has projected that Indias economic growth is set to rise to.....this fiscal and further to.....in the next financial year, on back of GST and banking reforms recently.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Asian Development Bank has projected that India’s economic growth is set to rise to____this fiscal and further to____in the next financial year, on back of GST and banking reforms recently.

A	7.7% and 7.9%
B	7.3% and 7.6%
C	7.4% and 7.7%
D	7.2% and 7.4%

Explanation:

Detailed explanation-1: -ADB’s 7 per cent growth projection for fiscal 2022-23 (April 2022 to March 2023), unchanged from its September forecast, compares to 8.7 per cent GDP growth in 2021-22. For 2023-24, the GDP growth has been kept unchanged at 7.2 per cent.

Detailed explanation-2: -Average GDP growth is projected to moderate from 5.6 per cent in 2022 to 4.8 per cent in 2023. “Growth in India is expected to remain strong at 5.8 per cent, albeit slightly lower than the estimated 6.4 per cent in 2022, as higher interest rates and a global slowdown weigh on investment and exports, ” it said.

Detailed explanation-3: -The Indian economy is set to grow at 7 per cent, said the Asian Development Bank (ADB) as it kept its outlook for India’s economic growth unchanged for the ongoing fiscal year. For 2023-24, the GDP growth has been kept unchanged at 7.2 per cent.

Detailed explanation-4: -India to witness GDP growth of 6.0 per cent to 6.8 per cent in 2023-24, depending on the trajectory of economic and political developments globally.

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