2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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7.5%
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10.5%
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9.5%
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8.5%
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Detailed explanation-1: -Real GDP grew by 8.7 percent in FY2021/22, bringing total output above pre‑pandemic levels. Growth has continued this fiscal year, supported by a recovery in the labor market and increasing credit to the private sector.
Detailed explanation-2: -The first advance estimate for 2022-23 released by the National Statistical Office (NSO) on Friday estimated GDP growth at 7%, slower than the 8.7% expansion posted in 2021-22. The estimate is a shade higher than the Reserve Bank of India (RBI), which pegged it at 6.8%.
Detailed explanation-3: -Real GDP growth is estimated at 7.0 per cent in 2022-23, according to the first advance estimate of the National Statistical Office (NSO).
Detailed explanation-4: -Fitch Ratings has retained India’s GDP growth forecast at seven per cent for 2022-23. However, GDP growth projection for 2023-24 and 2024-25 has been revised downwards to 6.2 per cent and 6.9 per cent, respectively.
Detailed explanation-5: -Global growth is forecast to slow from 6.0 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023. This is the weakest growth profile since 2001 except for the global financial crisis and the acute phase of the COVID-19 pandemic.