CURRENT AFFAIRS

Detailed explanation-1: -India’s economy is expected to grow 7.0% in the current financial year, according to the first advance estimates by the National Statistical Office (NSO) released on Friday. New Delhi had pegged India’s growth at 8.7% in the last fiscal year that ended March 31, 2022.

Detailed explanation-2: -The first advance estimate for 2022-23 released by the National Statistical Office (NSO) on Friday estimated GDP growth at 7%, slower than the 8.7% expansion posted in 2021-22. The estimate is a shade higher than the Reserve Bank of India (RBI), which pegged it at 6.8%.

Detailed explanation-3: -GDP at Constant (2011-12) Prices in April-September 2022-23 (H1 2022-23) is estimated at ₹75.02 lakh crore as against ₹68.36 lakh crores during the corresponding period of previous year, showing a growth of 9.7 percent in H1 2022-23 as against 13.7 percent during the same period last year.

Detailed explanation-4: -The growth in real GDP during 2022-23 is estimated at 7 per cent as compared to 8.7 per cent in 2021-22, it stated.

Detailed explanation-5: -Gross Domestic Product (GDP)-CSO-Central Statistics Office.