CURRENT AFFAIRS

Detailed explanation-1: -Taking all these factors into consideration, real GDP growth for 2023-24 is projected at 6.4 per cent with Q1 at 7.8 per cent, Q2 at 6.2 per cent, Q3 at 6.0 per cent and Q4 at 5.8 per cent, and risks broadly balanced (Chart 2). 10.

Detailed explanation-2: -Real gross domestic product (GDP) is expected to grow by 6.9 per cent in 2022-23 [projections revised down by 10 basis points (bps) from the last survey round]; it is expected to grow by 6.0 per cent in 2023-24 (Table 1).

Detailed explanation-3: -RBI pegs GDP growth at 6.8% for FY23, projects inflation to fall below 6% by March 2023. The Reserve Bank of India on Wednesday marginally lowered the country’s GDP growth projection for the current fiscal from 7% to 6.8%.

Detailed explanation-4: -The RBI also projected India’s GDP growth at 6.4% for financial year 2023-24. In the latest economic survey released on 31 January, the Indian finance ministry forecast GDP to grow between 6% and 6.8% in 2023-24.

Detailed explanation-5: -Nirmala Sitharaman tabled the Economic Survey 2022-23 in Parliament today, which projects a baseline GDP growth of 6.5 per cent in real terms in FY24. The projection is broadly comparable to the estimates provided by multilateral agencies such as the World Bank, the IMF, and the ADB and by RBI, domestically.