2020
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
3.2%
|
|
|
2.2%
|
|
|
4.2%
|
|
|
5.2%
|
Detailed explanation-1: -The World Bank has revised its 2022-23 GDP forecast upward to 6.9 percent from 6.5 percent (in October 2022), considering a strong outturn in India in the second quarter (July-September) of the 2022-23 financial year.
Detailed explanation-2: -In particular, a recession is usually associated with a decline of 2 percent in GDP. In the case of severe recessions, the typical output cost is close to 5 percent.
Detailed explanation-3: -The World Bank on Tuesday warned of a recession in 2023 and said a sharp, long-lasting slowdown is expected to hit developing countries hard. It said global growth is slowing sharply in the face of elevated inflation, higher interest rates, reduced investment, and disruptions caused by Russia’s invasion of Ukraine.
Detailed explanation-4: -The World Bank has revised its 2022-23 GDP forecast upward from 6.5 per cent in October to 6.9 per cent.