Question: What is the projected GDP growth forecast of India in FY23 as per CRISIL?
(a) 6.8 Percent
(b) 8.3 Percent
(c) 7.8 Percent
(d) 9.2 Percent
Answer: (c)
Related Facts:
- Domestic rating agency CRISIL has estimated FY23 real GDP growth at 7.8 per cent as compared with the 8.5 per cent projected in the Economic Survey.
- Estimating the growth to slow to 7.8 per cent in FY23 from the 9.2 per cent in FY22.
- Finance Minister Nirmala Sitharaman’s Budget proposals focused on loosening the purse strings by boosting capital expenditure and going slow on fiscal consolidation are aimed in the right direction.
- The agency said global growth is expected to slow this year as major economies see a withdrawal of monetary and fiscal stimulus.
- It will have a direct bearing on India’s growth prospects as exports have been a key demand driver of domestic growth during the pandemic.
- CRISIL is an Indian analytical company providing ratings, research, and risk and policy advisory services and is a subsidiary of American company S&P Global.
BY: AMIT GUPTA