CURRENT AFFAIRS

2021

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What is the revised estimated growth rate of India for fiscal 2021-22 as per the World Bank?
A
9.55%
B
11%
C
10.1%
D
8.24%
Explanation: 

Detailed explanation-1: -India’s gross domestic product (GDP), which grew 8.7 per cent in previous 2021-22 financial year, expanded 6.3 per cent in July-September 2022-23. The institution said that the government is expected to meet the fiscal deficit target of 6.4 per cent of the GDP in 2022-23.

Detailed explanation-2: -The World Bank has revised its 2022-23 GDP forecast upward to 6.9 percent from 6.5 percent (in October 2022), considering a strong outturn in India in the second quarter (July-September) of the 2022-23 financial year.

Detailed explanation-3: -India’s Economic Resilience and Growth Drivers These forecasts, including the advance estimates released by the NSO, now broadly lie in the range of 6.5-7.0 per cent.

Detailed explanation-4: -Full Year GDP Growth in India averaged 6.12 percent from 2006 until 2023, reaching an all time high of 8.70 percent in 2022 and a record low of -6.60 percent in 2021. This page includes a chart with historical data for India Full Year GDP Growth.

Detailed explanation-5: -India’s real GDP growth is expected to be at 6.9 per cent in FY22-23 compared to 8.7 per cent in FY21-22, according to World Bank’s latest India Development Update.

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