CURRENT AFFAIRS

Detailed explanation-1: -The growth in real GDP during 2022-23 is estimated at 7.0 per cent as compared to 8.7 per cent in 2021-22, according to data released by the NSO, Ministry of Statistics and Programme Implementation.

Detailed explanation-2: -GDP Deflator in India is expected to reach 167.94 points by the end of 2023, according to Trading Economics global macro models and analysts expectations. In the long-term, the India GDP Deflator is projected to trend around 174.83 points in 2024 and 182.35 points in 2025, according to our econometric models.

Detailed explanation-3: -World Bank upgrades India’s GDP growth forecast for 2022-23 to 6.9 percent from 6.5 percent. The World Bank today said that the Indian economy is set to grow at 6.9 per cent in 2022-23, raising its forecast of 6.5 per cent growth made in October.

Detailed explanation-4: -India GDP deflator (implicit price deflator) increased 9.3 % in Sep 2022, compared with an increase of 11.6 % in the previous quarter. India GDP Deflator Growth data is updated quarterly, available from Jun 2005 to Sep 2022, with an average rate of 5.6 %.

Detailed explanation-5: -The GDP deflator is seen at about 7.9% this fiscal and wholesale price based inflation, which has a higher weight in the deflator, will drive the deflator based inflation downwards next year. The RBI has pegged CPI inflation at 6.7% in 2022-23 with real GDP growth at 6.8%.