2019
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
7.1%
|
|
|
7.2%
|
|
|
7.3%
|
|
|
7.4%
|
Detailed explanation-1: -United Nations: India’s economy is projected to grow at 7.1 per cent in fiscal year 2020 on the back of strong domestic consumption and investment but the GDP growth is a downward revision from the 7.4 per cent estimated in January this year, according to a report by the United Nations.
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: -The Organisation for Economic Co-operation and Development (OECD) has downgraded India’s GDP growth forecast to 6.6% for FY 2022-23 from 6.9% projected earlier on moderation in exports and domestic demand and inflation crimping private consumption.
Detailed explanation-4: -Gross domestic product (GDP) growth in India will slow to 6.6% in the financial year 2023-24 from 6.9% projected in the ongoing fiscal, according to the World Bank.
Detailed explanation-5: -It is the world’s fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). According to the International Monetary Fund (IMF), on a per capita income basis, India ranked 142nd by GDP (nominal) and 125th by GDP (PPP).