CURRENT AFFAIRS

Detailed explanation-1: -The Organisation for Economic Co-operation and Development (OECD) has downgraded India’s GDP growth forecast to 6.6% for FY 2022-23 from 6.9% projected earlier on moderation in exports and domestic demand and inflation crimping private consumption.

Detailed explanation-2: -The growth in real GDP during 2022-23 is estimated at 7.0% as compared to 8.7% in 2021-22,” the ministry said. The output of the manufacturing sector is estimated to decelerate to 1.6% as against a growth of 9.9% in FY22 while construction growth may moderate to 9% in FY23 from 11.5% in FY22.

Detailed explanation-3: -The growth in real GDP during 2022-23 is estimated at 7.0 percent as compared to 8.7 percent in 2021-22.” The Indian economy is estimated to grow at 7 percent in 2022-23, as against the expansion of 8.7 percent in the previous fiscal, the National Statistical Office (NSO) said on Friday.

Detailed explanation-4: -According to the CNBC-TV18 poll, the FY23 real GDP is estimated at 6.9 percent, nominal GDP is seen growing at 15.8 percent to Rs 269 trillion, and the fiscal deficit works to Rs 17.2 trillion.

Detailed explanation-5: -Rating agency Crisil on Monday pared its 2022-23 real GDP growth forecast to 7%, from 7.3% estimated earlier, and said it expects the Indian economy to face more stress in 2023-24 with growth likely to slow to 6% due to the global slowdown and tightening financial conditions at home.