2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1.5%
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1.8 %
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2.1%
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2.8%
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Detailed explanation-1: -The economy had contracted by 7.3 per cent in the 2020-21 fiscal as restrictions imposed to curb spread of coronavirus pummelled business activity. “India’s economy staged a strong rebound in 3Q21 (July-September 2021) from the Delta variant-induced sharp contraction, ” Fitch said in its Global Economic Outlook (GEO).
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: -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.
Detailed explanation-4: -India gdp growth rate for 2021 was 8.95%, a 15.54% increase from 2020. India gdp growth rate for 2020 was -6.60%, a 10.33% decline from 2019.
Detailed explanation-5: -Solid GDP Growth Prospects: India’s economy continues to recover swiftly from the Covid-19 pandemic shock. GDP rose by 8.7% in the fiscal year ended March 2022 (FY22), and we forecast growth to remain robust at 7.8% in FY23, compared with the 3.4% ‘BBB’ median.