CURRENT AFFAIRS

Detailed explanation-1: -India’s real GDP is expected to grow by seven per cent in 2022-23 and by 6.4 per cent in 2023-24, as per Morgan Stanley. It expects inflation to remain in the range of 7.1 per cent to 7.4 per cent in September 2022, driven by increase in food prices as per high-frequency food price trend.

Detailed explanation-2: -Morgan Stanley data shows that multinational corporations’ sentiment on the investment outlook in India is at an all-time high. Manufacturing’s share of GDP in India could increase from 15.6% currently to 21% by 2031-and, in the process, double India’s export market share.

Detailed explanation-3: -Moody’s Investors Service on Friday lowered India’s economic growth projection for 2022 to 7% from 7.7% earlier.

Detailed explanation-4: -The growth in real GDP during 2022-23 is estimated at 7.0% as compared to 8.7% in 2021-22, ” the ministry said. The output of the manufacturing sector is estimated to decelerate to 1.6% as against a growth of 9.9% in FY22 while construction growth may moderate to 9% in FY23 from 11.5% in FY22.

Detailed explanation-5: -4. Nominal GDP or GDP at Current Prices in Q1 2022-23 is estimated at ₹ 64.95 lakh crore, as against ₹ 51.27 lakh crore in Q1 2021-22, showing a growth of 26.7 percent as compared to 32.4 percent in Q1 2021-22. 5.