2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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-6.7
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-5.5
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-10.5
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-10
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Detailed explanation-1: -Nomura expects India’s GDP growth to likely slowdown to 5.1 per cent in 2023-24. According to it, 2023 will be a particularly bumpy year for India on account of a global slowdown and an uneven domestic recovery. GDP growth for 2022-23 is projected at 6.6 per cent.
Detailed explanation-2: -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.
Detailed explanation-3: -Nomura’s forecast comes even as the Indian central bank earlier in the day raised the repo rate for the fifth time in eight months to 6.25 percent and cut its GDP growth forecast for 2022-23 by 20 basis points to 6.8 percent - 20 basis points higher than 6.6 percent predicted by Nomura.
Detailed explanation-4: -India’s Economic Performance in 2020-21 India’s real GDP to record a 11.0% growth in FY2021-22 and nominal GDP to grow by 15.4%. India expected to have a Current Account Surplus of 2% of GDP in FY21, a historic high after 17 years.