Moodys Investors Services annual Banking System Outlook on India estimated the countrys real gross domestic product (GDP) for the current financial year (2018-19) and next fiscal (2019-20) to grow at.....and.....respectively.

BANKING GENERAL KNOWLEDGE

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

Moody’s Investors Service’s annual Banking System Outlook on India estimated the country’s real gross domestic product (GDP) for the current financial year (2018-19) and next fiscal (2019-20) to grow at____and____respectively.

A	7.9% and 7.2%
B	7.1% and 7.3%
C	7.7% and 7.1%
D	7.2% and 7.4%

Explanation:

Detailed explanation-1: -India headed for slower growth in 2023: Moody’s In August, Moody’s had projected India’s growth to slow to 8% in 2022 and further to 5% in 2023, from 8.5% in 2021.

Detailed explanation-2: -Moody’s said it now expects India’s GDP growth to slow to 7% in 2022 – versus its previous estimate of 7.7% – and then decelerate to 4.8% in 2023, before recovering to around 6.4% in 2024.

Detailed explanation-3: -Taking all these factors into consideration, real GDP growth for 2022-23 is projected at 6.8 per cent, with Q3 at 4.4 per cent and Q4 at 4.2 per cent. The risks are evenly balanced. Real GDP growth is projected at 7.1 per cent for Q1:2023-24 and at 5.9 per cent for Q2.

Detailed explanation-4: -For India, the 2022 real GDP growth projections have been lowered to 7 per cent from 7.7 per cent. The downward revision assumes higher inflation, high interest rates and slowing global growth will dampen economic momentum by more than we had previously expected, said the Global Macro Outlook 2023-24.

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