2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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8.7 percent
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10 percent
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9.5 percent
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7.5 percent
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Detailed explanation-1: -NEW DELHI: The Reserve Bank of India (RBI) on Friday cut its GDP growth forecast for 2022-23 to 7% from the earlier 7.2%, citing the impact of the geopolitical tensions, tightening global financial conditions and slowing external demand, but retained the inflation projection at 6.7%.
Detailed explanation-2: -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-3: -Real gross domestic product (GDP) is expected to grow by 6.9 per cent in 2022-23 [projections revised down by 10 basis points (bps) from the last survey round]; it is expected to grow by 6.0 per cent in 2023-24 (Table 1).
Detailed explanation-4: -“Nominal GDP or GDP at Current Prices in the year 2022-23 is estimated at ₹273.08 lakh crore, as against the Provisional Estimate of GDP for the year 2021-22 of ₹236.65 lakh crore, released on 31st May, 2022.
Detailed explanation-5: -Moody’s Investors Service expects India’s GDP growth to slow from 8.3% in 2021 to 7.7% in 2022 and to decelerate further to 5.2% in 2023.