CURRENT AFFAIRS

Detailed explanation-1: -The Indian economy is set to grow at 7 per cent, said the Asian Development Bank (ADB) as it kept its outlook for India’s economic growth unchanged for the ongoing fiscal year. For 2023-24, the GDP growth has been kept unchanged at 7.2 per cent.

Detailed explanation-2: -India’s Economic Resilience and Growth Drivers These forecasts, including the advance estimates released by the NSO, now broadly lie in the range of 6.5-7.0 per cent.

Detailed explanation-3: -In Short. By India Today Web Desk: Finance Minister Nirmala Sitharaman on Tuesday tabled the Economic Survey 2022-23 in Parliament. The survey estimated India’s GDP growth in FY24 at 6.5 per cent, while the growth for the ongoing year has been projected at 7 per cent, compared to 8.7 per cent in FY22.

Detailed explanation-4: -The consequent depreciation of other currencies has been widening the CAD and increasing inflationary pressures in the net importing economies. India to witness GDP growth of 6.0 per cent to 6.8 per cent in 2023-24, depending on the trajectory of economic and political developments globally.

Detailed explanation-5: -The economic survey forecast India’s economy to grow at 6.5 per cent in 2023-24, compared to 7 per cent this fiscal and 8.7 per cent in 2021-22. The 6.5 per cent means India’s economic growth next fiscal year will still be the fastest among major economies.