2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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-7.9%
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-7.5%
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-7.4%
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-7.0%
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Detailed explanation-1: -Representative image. Moody’s Investors Service has raised its GDP growth forecast for India for the current calendar year to 9.5 percent from 7 percent, citing a stronger-than-expected economic recovery from the national lockdown of 2020 and the second wave of the COVID-19 pandemic in mid-2021.
Detailed explanation-2: -Moody’s Cuts India’s 2022 GDP Growth Forecast to 7%, Sees 2023 Growth at 4.8%
Detailed explanation-3: -India gdp growth rate for 2021 was 8.95%, a 15.54% increase from 2020. India gdp growth rate for 2020 was -6.60%, a 10.33% decline from 2019.
Detailed explanation-4: -"For India, the 2022 real GDP growth projections have been lowered to 7 per cent from 7.7 per cent. The downward revision assumes higher inflation, high-interest rates and slowing global growth will dampen economic momentum by more than we had previously expected, ” the agency said in its Global Macro Outlook 2023-24.
Detailed explanation-5: -Moody’s had in May projected India’s Gross Domestic Product (GDP) at 8.8% this year. The economy contracted to 6.7% in 2020, the year when the pandemic struck the country, and grew at 8.3% in 2021.