2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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9.9%
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6.6%
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7.6%
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8.2%
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Detailed explanation-1: -Nirmala Sitharaman today in Parliament. According to the Survey, fiscal deficit is expected to be at 6.4% of GDP in FY 23.
Detailed explanation-2: -Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 on a positive roadmap with fiscal deficit for 2023-24 at 5.9 percent of GDP well below the 6.4% budgeted for 2022-23. The fiscal deficit for 2021-22 was 6.7%, which was lower than the revised budget estimates of 6.9%.
Detailed explanation-3: -The International Monetary Fund (IMF) has projected India’s growth to be at 6.1 per cent in the fiscal year 2023.
Detailed explanation-4: -The forecast is in line with the Reserve Bank of India’s projection of 6.8% GDP growth for 2022-23. It highlighted that monetary policy tightening to fight inflation and geopolitical uncertainty due to Russia’s war in Ukraine would continue to weigh on global economic activity in 2023.
Detailed explanation-5: -The International Monetary Fund (IMF) has retained India’s FY23 growth forecast at 6.8%, terming the country a bright spot and major engine of growth amid an expected fall in global growth to 2.9% in 2023 from an estimated 3.4% in 2022.