Global research agency Fitch has raised Indias growth forecast for the current fiscal to.....per cent from the earlier 7.4 per cent.

BANKING GENERAL KNOWLEDGE

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

Global research agency Fitch has raised India’s growth forecast for the current fiscal to____per cent from the earlier 7.4 per cent.

A	7.6 per cent
B	7.7 per cent
C	7.5 per cent
D	7.8 per cent

Explanation:

Detailed explanation-1: -Fitch has projected India’s GDP to grow at 7% in the current fiscal, at 6.2 per cent in 2023-24 and at 6.9 per cent in 2024-25.

Detailed explanation-2: -Resilient, but Slowing, Economy: Sustained consumption and investment recoveries underpin Fitch Ratings’ GDP growth forecast of 7.0% in the fiscal year ending March 2023 (FY23).

Detailed explanation-3: -Given the stronger-than-expected outturn in the July-September quarter with GDP growth at 6.3 per cent, Fitch forecasts growth at 7 per cent in the financial year ending March 2023 (FY23).

Detailed explanation-4: -Fitch Ratings has retained India’s GDP growth forecast at seven per cent for 2022-23. However, GDP growth projection for 2023-24 and 2024-25 has been revised downwards to 6.2 per cent and 6.9 per cent, respectively.

Detailed explanation-5: -Nirmala Sitharaman tabled the Economic Survey 2022-23 in Parliament today, which projects a baseline GDP growth of 6.5 per cent in real terms in FY24. The projection is broadly comparable to the estimates provided by multilateral agencies such as the World Bank, the IMF, and the ADB and by RBI, domestically.

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