2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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6.1%
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4.2%
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5%
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6%
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Detailed explanation-1: -Nomura expects India’s GDP growth to likely slowdown to 5.1 per cent in 2023-24. According to it, 2023 will be a particularly bumpy year for India on account of a global slowdown and an uneven domestic recovery. GDP growth for 2022-23 is projected at 6.6 per cent.
Detailed explanation-2: -Nomura’s forecast comes even as the Indian central bank earlier in the day raised the repo rate for the fifth time in eight months to 6.25 percent and cut its GDP growth forecast for 2022-23 by 20 basis points to 6.8 percent-20 basis points higher than 6.6 percent predicted by Nomura.
Detailed explanation-3: -Modi appeals to states to follow fiscal discipline Moody’s Investors Service slashed India’s GDP growth projection from 8.3% in 2021 to 7.7% in 2022 and projected it to decelerate further to 5.2% in 2023.
Detailed explanation-4: -India’s growth is “likely to disappoint at 4.5% in 2023 due to global spillovers, prompting 75 basis point of rate cuts in second half of 2023, ” Nomura economists led by Sonal Varma wrote.