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Strengthening consumer purchasing power is actually listed as a potential upside factor, not a downside risk. • The Organisation for Economic Co-operation and Development (OECD) has increased its 2024-25 GDP growth forecast for India to 6.6%, citing buoyant public investment and improved business confidence as key drivers. • GDP growth globally is projected to remain steady at 3.1% in 2024, with a slight increase to 3.2% in 2025, influenced by stronger real income growth and lower policy interest rates. • In India, growth will be primarily driven by gross capital formation, particularly in the public sector, while private consumption is expected to remain sluggish. Exports, especially in services like information technology and consulting, are expected to grow, supported by foreign investment. • The OECD has noted the need for fiscal consolidation in India due to high public debt levels, which could restrict private investment. However, this is expected to be only partially offset by a rise in private investment as business confidence improves. • Household consumption in India is not anticipated to pick up significantly due to disappointing job creation, underwhelming rural performance, and tight financial conditions. • Downside risks for India's growth include potential new supply chain disruptions, persistent food inflation, and negative impacts from global financial market fluctuations. Conversely, potential upside factors include strengthening consumer purchasing power from ongoing disinflation, which could enhance household consumption, business investment, and job creation. • The OECD report also anticipates the possibility of the Reserve Bank of India (RBI) beginning to cut the policy rate in late 2024, with potential reductions totaling up to 125 basis points by March 2026, contingent on a normal monsoon season and stable inflation expectations.
Which of the following statements is true about the newly inaugurated dual elevated Eastern Cross Taxiways and fourth runway at Delhi airport?
According to RBI’s monthly bulletin,the Gross foreign direct investments (FDI) into India moderated to $ 12.2 billion in April-May 2023, from $ 16.5 b...
Recently SEBI auctioned the properties of which of the following industries on 25 August 2022 to recover money that was illegally raised from investors?
The food ministry has estimated the cost of Smart PDS scheme- launched to create an integrated national-level dashboard for monitoring of end-to-end ope...
The Reserve Bank of India (RBI) has permitted non-banking finance companies operating as Infrastructure Debt Fund (IDF-NBFCs) to raise money through ext...
Google and which global Space Agency have come together to bring more than 60 3D models of planets, moons and NASA spacecraft to Google Search and Googl...
For the generation of solar power, which of the following states has partnered with NLC India Ltd. ?
Morgan Stanely has projected India’s GDP growth forecast for 2022-23 (FY23) at ________%.
Which of the following statements correctly describes the purpose of the MyGov platform under the Digital India Mission?