2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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8%
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4%
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7%
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9%
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Detailed explanation-1: -Fitch has projected India’s GDP to grow at 7% in the current fiscal, at 6.2 per cent in 2023-24 and at 6.9 per cent in 2024-25.
Detailed explanation-2: -Fitch Affirms India at ‘BBB-’; Outlook Stable. Fitch Ratings - Hong Kong - 20 Dec 2022: Fitch Ratings has affirmed India’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-’ with a Stable Outlook. A full list of rating actions is at the end of this rating action commentary.
Detailed explanation-3: -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. Fitch Ratings, in September 2022, had estimated GDP growth for 2023-24 at 6.7 per cent and for 2024-25 at 7.1 per cent.
Detailed explanation-4: -India’s nominal growth, which includes inflation, is projected to be at 15.4% for 2022/23, up from an earlier 11.1% estimate. “The nominal GDP growth is higher, implying that the government’s fiscal deficit target will be achieved,” said Sabnavis.