Which of the following country has approved an economic stimulus package worth 275 billion dollars in attempt kick-start the economy and boost growth of the worlds third-largest economy

2016

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

Which of the following country has approved an economic stimulus package worth 275 billion dollars in attempt kick-start the economy and boost growth of the world’s third-largest economy

A	Japan
B	US
C	Russia
D	China

Explanation:

Detailed explanation-1: -It is a given that Covid-19 hit the Indian economy hard. The economy contracted 6.6% in fiscal 2021 on account of the pandemic and then staged a mild recovery in fiscal 2022, when it grew 8.7%.

Detailed explanation-2: -The economic impact of the COVID-19 pandemic in India is largely disruptive. The growth of the economy has slowed down due to shutdown of different productions channels. Reverse migration of workforce and consequent shortage of labour, resulted in further deceleration of economic growth.

Detailed explanation-3: -India may be able to sustain a reasonably high growth rate based on the strength of its domestic demand. In a comparative perspective, India is expected to do well in the short-to medium term. Its projected growth in FY23 is 8.2% as per IMF and 7.2% according to RBI.

Detailed explanation-4: -India accounted for 7.2% of global economy in 2022 in PPP terms, and around 3.4% in nominal terms in 2022. 1, 417, 173, 173 (2nd; 2022 est.) $3.469 trillion (nominal; 2022 est.) $11.665 trillion (PPP; 2022 est.)

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