Question : What is the real gdp growth rate projected by RBI for FY 2020-21?
(a) (-) 8.0 percent
(b) (-) 6.0 per cent
(c) (-) 7.6 per cent
(d) (-) 5.4 per cent
Answer: (a)
Related facts
- The Reserve Bank of India released its Annual Report on May 27,2021. Accordingly, India’s real gdp growth rate projected at (-) 8.0 percent for FY 2020-21.
- It is estimated at 4.0 percent for FY 2019-20.
- RBI has changed its accounting year to April-March from July-June, and hence the latest report only covers nine months (July 2020-March 2021).
- Other salient features of the report given below —
- Banks and other financial institutions reported frauds worth Rs 1.38 trillion in 2020-21, down 25 per cent compared to the previous year, when the amount involved was Rs 1.85 trillion.
- In terms of number, these entities reported 15 per cent fewer frauds in 2020-21, at 7,363, compared to the previous year’s 8,703 cases.
- It is notable that RBI data takes into account frauds of Rs 1 lakh and above only.
- In 2019-20, the total fraud cases involving Rs 1 lakh and above had shot up by 28 per cent by volume and 159 per cent by value.
- The central bank’s gain from foreign exchange transactions rose from Rs 29,993 crore to Rs 50,629 crore in 2020-21.
By — Pankaj Pandey.
Link:
https://www.rbi.org.in/Scripts/AnnualReportPublications.aspx?year=2021