CURRENT AFFAIRS

Detailed explanation-1: -Reserve Bank of India (RBI) Governor Shaktikanta Das projected the real GDP growth rate for FY23 at 6.8 percent on December 7 down from the 7 percent estimated earlier.

Detailed explanation-2: -RBI pegs GDP growth at 6.8% for FY23, projects inflation to fall below 6% by March 2023. The Reserve Bank of India on Wednesday marginally lowered the country’s GDP growth projection for the current fiscal from 7% to 6.8%.

Detailed explanation-3: -Reserve Bank of India governor Shaktikanta Das, in the briefing after the monetary policy meeting, said that the real gross domestic product (GDP) growth for the financial year 2023 is estimated to be at 6.8 percent.

Detailed explanation-4: -Nirmala Sitharaman tabled the Economic Survey 2022-23 in Parliament today, which projects a baseline GDP growth of 6.5 per cent in real terms in FY24. The projection is broadly comparable to the estimates provided by multilateral agencies such as the World Bank, the IMF, and the ADB and by RBI, domestically.

Detailed explanation-5: -India’s gross domestic product (GDP) is estimated to grow by 7 percent in 2022-23, the statistics ministry said on January 6. In the fiscal year 2021-22, the GDP had grown by 8.7 percent. The country’s nominal GDP growth for FY23 is estimated at 15.4 percent versus 19.5 percent in FY22, the ministry said in a release.