2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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8.5%
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6.2%
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7.9%
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9.4%
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Detailed explanation-1: -S&P cuts India’s economic growth to 7% for FY23.
Detailed explanation-2: -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-3: -The Indian economy is estimated to grow at 7 percent in 2022-23, as against the expansion of 8.7 percent in the previous fiscal, the National Statistical Office (NSO) said on Friday.
Detailed explanation-4: -Like real growth, India’s nominal growth is also expected to decline next year, thanks to cooling inflation. Moody’s sees nominal growth falling to 10.9 percent in 2023-24, sharply lower than 19.5 percent in 2021-22 and 15.4 percent this year.
Detailed explanation-5: -This can be attributed to external headwinds like slowing global growth and tightening of monetary policies that the Indian economy has been witnessing. “For India, the 2022 real GDP growth projections have been lowered to 7 per cent from 7.7 per cent.