Correct Answer : Option (B) - 7%
The Indian economy is expected to expand 7% in fiscal 2022/23, slower than a previous estimate of 7.4% and the central bank's 7.2% projection, according to a survey by India's leading industry body.
The Federation of Indian Chambers of Commerce and Industry's (FICCI) quarterly survey, released on Thursday(21st July 2022), said the war in Ukraine is likely to keep inflation high and dent consumer demand.
"CPI is anticipated to remain above the RBI's tolerance band till the third quarter of FY2022-23 and may come within the tolerance level only after the fourth quarter," the FICCI said in a press statement.
Annual consumer inflation has remained above the RBI's 2%-6% tolerance band for six straight months to June, prompting economists in the survey to predict the RBI will hike the repo rate further to 5.65% by the end of the fiscal year in March 2023..Source : Economic Times
Published On : July 21, 2022
Category : Indian Economy