India Ratings and Research has projected the countrys economic growth to improve to.....in 2018-19 from.....in 2017-18, buoyed by robust consumption demand and low commodity prices.

BANKING GENERAL KNOWLEDGE

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

India Ratings and Research has projected the country’s economic growth to improve to____in 2018-19 from____in 2017-18, buoyed by robust consumption demand and low commodity prices.

A	7.1 percent and 6.5 percent
B	7.2 percent and 6.4 percent
C	7.3 percent and 6.3 percent
D	6.8 percent and 6.9 percent

Explanation:

Detailed explanation-1: -1.4 India’s growth of real GDP has been high with average growth of 7.5 per cent in the last 5 years (2014-15 onwards). The Indian economy grew at 6.8 per cent in 2018-19, thereby experiencing some moderation in growth when compared to the previous year.

Detailed explanation-2: -Gross Value Added (GVA): The GVA (at constant prices) is estimated at 6.1% in 2017-18 as compared to 6.6% in 2016-17. The agriculture and industry sectors are expected to grow at 2.1% and 4.4% respectively, while the service sector is estimated to grow at 8.3%.

Detailed explanation-3: -The services sector accounts for 54 per cent of India’s Gross Value Added (GVA). Its growth rate moderated to 7.5 per cent in 2018-19 from 8.1 per cent in 2017-18.

Detailed explanation-4: -The Economic Survey 2018-19 was announced on July 4, 2019, by Ms Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, Government of India. The Survey forecasts a growth rate of 7 per cent for FY20, as compared to the growth rate of 6.8 per cent in FY19.

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