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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0.5%
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0%
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1%
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Detailed explanation-1: -Moody’s had in May projected India’s GDP to expand by 8.8 per cent this year. The economy grew by 8.3 per cent in 2021 and contracted by 6.7 per cent in 2020, the year when the pandemic struck the country.
Detailed explanation-2: -Moody’s Cuts India’s 2022 GDP Growth Forecast to 7%, Sees 2023 Growth at 4.8%
Detailed explanation-3: -Sector-wise GDP of India Gross Value Added (GVA) at current prices for the services sector is estimated at 96.54 lakh crore INR in 2020-21. The services sector accounts for 53.89% of total India’s GVA of 179.15 lakh crore Indian rupees.
Detailed explanation-4: -India’s Economic Performance in 2020-21 India’s real GDP to record a 11.0% growth in FY2021-22 and nominal GDP to grow by 15.4%. India expected to have a Current Account Surplus of 2% of GDP in FY21, a historic high after 17 years.
Detailed explanation-5: -"For India, the 2022 real GDP growth projections have been lowered to 7 per cent from 7.7 per cent. The downward revision assumes higher inflation, high-interest rates and slowing global growth will dampen economic momentum by more than we had previously expected, ” the agency said in its Global Macro Outlook 2023-24.