CURRENT AFFAIRS

Detailed explanation-1: -GDP growth at 7.0% as compared to 8.7% in FY22. The GVA growth estimate is 6.7%. Nominal GDP growth is esti- mated to increase by 15.4% in FY23 vis-à-vis 19.5% in FY22. higher than the RBI’s estimates.

Detailed explanation-2: -India’s output will expand 7% in fiscal year 2022-2023 and 6% in next fiscal year, ” S&P Global Ratings Asia-Pacific chief economist Louis Kuijs said. Meanwhile, SBI Research expects FY23 economic growth at 6.8% as against the RBI’s projection of 7%. In addition, it estimated Q2FY23 growth at 5.8%.

Detailed explanation-3: -Representative image With the GDP data to be released on the 30th of November 2022, the SBI Ecowrap report estimates that Q2 FY23 GDP growth to be pegged at 5.8% . This comes in the backdrop of the IMF projecting Global Growth to slow down from 6% to 3.2% in 2022 and further to 2.3% in 2022.

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: -3. Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in Q1 2022-23 is estimated to attain a level of ₹ 36.85 lakh crore, as against ₹ 32.46 lakh crore in Q1 2021-22, showing a growth of 13.5 percent as compared to 20.1 percent in Q1 2021-22. 4.