Question

Fitch Ratings has revised upwards its economic growth estimate for India to _____ for 2023-24 (FY24), citing stronger outturn in the March quarter of FY23 and near-term momentum.

A 6.0 percent Correct Answer Incorrect Answer
B 6.1 percent Correct Answer Incorrect Answer
C 6.3 percent Correct Answer Incorrect Answer
D 6.5 percent Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

Fitch Ratings has revised upwards its economic growth estimate for India by 30 basis points (bps) to 6.3 per cent for 2023-24 (FY24), citing stronger outturn in the March quarter of FY23 and near-term momentum.  It estimated the Indian economy to grow at 6.5 per cent for both years of FY25 and FY26. This compares with 7.2 per cent gross domestic product (GDP) expansion in FY23 and 9.1 per cent in FY22. Fitch revised global GDP growth upwards for 2023 to 2.4 per cent from 2 percent estimated earlier, in the wake of the fact that world economic activity is holding up better than expected.

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