2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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10.5%
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10.2%
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10.0%
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10.9%
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Detailed explanation-1: -Professional forecasters polled in the September 2022 round of the Reserve Bank’s survey expected real GDP growth at 6.3 per cent in Q2:2022-23, 4.8 per cent in Q3 and 4.2 per cent in Q4, and at 6.4-6.6 per cent in H1:2023-24 (Chart I.
Detailed explanation-2: -Taking all these factors into consideration, real GDP growth for 2022-23 is projected at 6.8 per cent, with Q3 at 4.4 per cent and Q4 at 4.2 per cent. The risks are evenly balanced. Real GDP growth is projected at 7.1 per cent for Q1:2023-24 and at 5.9 per cent for Q2.
Detailed explanation-3: -As announced in the Monetary Policy Statement 2022-23 dated December 07, 2022, the Bank Rate is revised upwards by 35 basis points from 6.15 per cent to 6.50 per cent with immediate effect.
Detailed explanation-4: -Giving more details, the Minister stated that as per provisional estimates released by National Statistical Office (NSO), Indian economy in 2021-22 has fully recovered the pre-pandemic real GDP level of 2019-20. The real GDP growth in 2021-22 stands at 8.7 per cent, 1.5 per cent higher than the real GDP of 2019-20.
Detailed explanation-5: -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.