2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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7.5%
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10.1%
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8.4%
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9.1%
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Detailed explanation-1: -Swiss brokerage UBS Securities has lowered the growth forecast of the Indian economy for the current financial year (FY22) to 9.1 per cent due to a massive surge in Omicron infections. Earlier this was estimated at 9.5 per cent.
Detailed explanation-2: -Moody’s Investors Service on Friday lowered India’s economic growth projection for 2022 to 7% from 7.7% earlier.
Detailed explanation-3: -UBS India has projected India’s real GDP growth in 2022-23 at 6.9 per cent. However, it expects GDP growth to moderate to 5.5 per cent in 2023-24 owing to slowing global growth and tightening of monetary policies.
Detailed explanation-4: -Giving more details, the Minister stated that as per provisional estimates released by National Statistical Office (NSO), Indian economy in 2021-22 has fully recovered the pre-pandemic real GDP level of 2019-20. The real GDP growth in 2021-22 stands at 8.7 per cent, 1.5 per cent higher than the real GDP of 2019-20.
Detailed explanation-5: -In our base case, we expect India’s real GDP growth to slow from 6.9 per cent in FY23 to 5.5 per cent in FY24 before settling at the long-run average of 6 per cent in FY25,” the report said.