2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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5%
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7.5%
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10.5%
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15%
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Detailed explanation-1: -The growth in GDP during 2021-22 is estimated at 8.7 percent as compared to a contraction of 6.6 percent in 2020-21. Nominal GDP or GDP at Current Prices in the year 2021-22 is estimated to attain a level of ₹ 236.65 lakh crore, as against ₹ 198.01 lakh crore in 2020-21, showing a growth rate of 19.5 percent.
Detailed explanation-2: -Fitch Affirms India at ‘BBB-’; Outlook Stable. Fitch Ratings - Hong Kong - 20 Dec 2022: Fitch Ratings has affirmed India’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-’ with a Stable Outlook. A full list of rating actions is at the end of this rating action commentary.
Detailed explanation-3: -Fitch Ratings has retained India’s GDP growth forecast at seven per cent for 2022-23. However, GDP growth projection for 2023-24 and 2024-25 has been revised downwards to 6.2 per cent and 6.9 per cent, respectively.
Detailed explanation-4: -In its December edition of the Global Economic Outlook, Fitch projected India’s GDP to grow at 7 per cent in the current fiscal, at a slower rate of 6.2 per cent in 2023-24 and at 6.9 per cent in 2024-25.