The Indian economy grew at a five-quarter high of.....in the October-December period reflecting overall recovery due to good show by agriculture, manufacturing, construction and certain services as per the second advanced estimates of the CSO.

BANKING GENERAL KNOWLEDGE

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

The Indian economy grew at a five-quarter high of____in the October-December period reflecting overall recovery due to good show by agriculture, manufacturing, construction and certain services as per the second advanced estimates of the CSO.

A	7.00%
B	7.20%
C	7.10%
D	7.30%

Explanation:

Detailed explanation-1: -Significant acceleration of growth rate took place in the ‘eighties. In fact, the growth during the ‘eighties, at an annual average rate of 5.9 per cent bettered the world output growth of 3.3 per cent, that of developing countries at 4.3 per cent, and even that of Asia excluding China and India at 5.1 per cent.

Detailed explanation-2: -The Survey says, the credit growth to the Micro, Small, and Medium Enterprises (MSME) sector has been remarkably high, over 30.6 per cent, on average during Jan-Nov 2022, supported by the extended Emergency Credit Linked Guarantee Scheme (ECLGS) of the Union government.

Detailed explanation-3: -The growth in real GDP during 2022-23 is estimated at 7.0 per cent as compared to 8.7 per cent in 2021-22.

Detailed explanation-4: -We expect India to grow in the range of 6.5%–6.9% in FY 2022–23 and 5.8%–6.3% in FY 2023–24. Considering the extent of volatility associated with the global and domestic economy, we are restricting the duration of our projection to just a year ahead.

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