2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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8.5 %
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6.5 %
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7.0 %
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6.4 %
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Detailed explanation-1: -Amidst these volatile global developments, the Indian economy remains resilient. 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-2: -On the assumption of a normal monsoon, CPI inflation is projected at 5.3 per cent for 2023-24, with Q1 at 5.0 per cent, Q2 at 5.4 per cent, Q3 at 5.4 per cent and Q4 at 5.6 per cent.
Detailed explanation-3: -On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (February 8, 2023) decided to: Increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.50 per cent with immediate effect.
Detailed explanation-4: -The RBI projects the real GDP growth projection at 6.8% in 2022-23 and at 7.1% for Q1 2023-24. The central Bank projects inflation at 6.7% in 2022-23, with Q3 at 6.6% and Q4 at 5.9%. CPI inflation for Q1 2023-24 is projected at 5% and for Q2 at 5.4%.
Detailed explanation-5: -Real gross domestic product (GDP) is expected to grow by 6.9 per cent in 2022-23 [projections revised down by 10 basis points (bps) from the last survey round]; it is expected to grow by 6.0 per cent in 2023-24 (Table 1).