2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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4.8%
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5.1%
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5.5%
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6%
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Detailed explanation-1: -Economic Outlook Note - India India is set to be the second-fastest growing economy in the G20 in FY 2022-23, despite decelerating global demand and the tightening of monetary policy to manage inflationary pressures. GDP growth will slow to 5.7% in FY 2023-24, as exports and domestic demand growth moderate.
Detailed explanation-2: -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-3: -Moody’s said it now expects India’s GDP growth to slow to 7% in 2022 – versus its previous estimate of 7.7% – and then decelerate to 4.8% in 2023, before recovering to around 6.4% in 2024. The Reserve Bank of India expects 2022-23 growth of 7%.
Detailed explanation-4: -The Economic Survey 2022-23 estimated India’s GDP growth at 6.5 per cent, which is lower than the projected 7 per cent growth for the ongoing financial year.