By what percentage does Morgan Stanley expected India's gross domestic product (GDP) to growth in FY24?

Today General Knowledge(GK)

5.4%

5.8%

6.2%

6.7%

Correct Answer : Option (C) - 6.2%

India’s gross domestic product (GDP) is expected to grow at 6.2% in FY24 as drivers of domestic demand remain intact amid fears of an impending slowdown, Morgan Stanley said in a research report released on Thursday (16th February 2023).

The report said that as the economy fully reopened in 2022 leading to a cyclical recovery in consumption, pickup in private capex with healthy balance sheets in the private corporate and financial sector, and acceleration in government capital spending, the world’s fifth largest economy will breach the consensus GDP growth figure of 6%.

“We believe that the key for sustained domestic demand is a pickup in capex, which will help create more jobs, thus leading to a virtuous cycle of more jobs leading to higher income, which will lead to higher saving, resulting in higher investment”, the report notes.

Earlier, the Union Budget for FY24 had projected nominal GDP growth at 10.5%, as the centre increased the capital investment outlay steeply for the third year in a row by 33% to Rs 10 trillion.

The Economic Survey for 2022-23 projected that India would witness a growth between 6-6.8% in FY24, depending on the trajectory of economic and geo-political developments globally.

The report also mentioned that the incoming high-frequency data on indicators like private consumption and investment reflected a moderation in the December quarter driven by base effect and shift in the festival calendar rather than a slowdown.

“Indeed, incoming data on high-frequency indicators have gained momentum both in YoY (year-on-year) and MoM (month-on-month) terms in January. The trend is thus encouraging after these indicators exhibited mixed signs, with some of them slowing in YoY terms in Q3 after peaking in Q2, driven by the impact of shift in festival dates on growth rates”, the report notes...

Source : Business Standard

Published On : February 18, 2023

Category : Indian Economy

Recent General Knowledge Questions

Q .

NIPFP Forecasts India’s FY25 GDP Growth at____.

5.8%

6.3%

6.7%

7.1%

Correct Answer : 7.1%

The National Institute of Public Finance and Policy (NIPFP) predicts India’s GDP growth for the fiscal year 2024-25 to be 7.1%. Utilizing high-frequency models, NIPFP underscores the government’s fiscal consolidation efforts, emphasizing tax buoyancy and compression of revenue expenditure.

States’ Capex Growth :

In the fiscal year 2023-24, states witness robust capital expenditure (capex) growth, attributed to substantial transfers from the central government. This highlights the effective utilization of resources at the state level, contributing to economic expansion.

Divergent Projections :

While NIPFP’s forecast stands at 7.1%, other entities such as the Asian Development Bank (ADB) and Fitch Ratings estimate a growth rate of 7%. In contrast, the International Monetary Fund (IMF), S&P Global Ratings, and Morgan Stanley project a slightly lower growth rate of 6.8% for FY25, indicating varying perspectives on India’s economic trajectory.

IMF’s Appreciation of India’s Fiscal Discipline :

The International Monetary Fund (IMF) commends India for maintaining fiscal discipline, particularly noteworthy in an election year. Emphasizing the significance of sound macro fundamentals, IMF’s Director for Asia and Pacific Department, Krishna Srinivasan, lauds India’s steady economic performance, projecting growth at 6.8% for 2024-25, driven by private consumption and public investment.

Published On : April 27, 2024

Category : Indian Economy

Q .

Where is the Archery World Cup 2024 being organized?

China

India

Malaysia

South Korea

Correct Answer : China

The Archery World Cup 2024 has begun 23rd April 2024 in Shanghai, China. India’s Jyothi Surekha Vennam finished second in the women’s compound qualification round at Stage I.

The 27-year-old Asian Games gold medallist shot a score of 711 to finish behind Andrea Becerra of Mexico, who had a score of 713.

Meanwhile, the reigning world champion from India, Aditi Swami, finished eighth in the qualification round with a score of 704. The other two Indians, Parneet Kaur (703) and Avneet Kaur (696) finished 14th and 23rd, respectively.

The Indian women’s team, comprising top three scorers Vennam, Swami, and Parneet, finished as the best team in the qualification round with a total score of 2118. The Indian women’s team will, thus, start as the top seeds in the competition, ahead of South Korea (2117) and Mexico (2116). The teams are ranked by adding the individual scores of the top three archers from the country.

In the men’s compound qualification round, no Indian finished in the top 10 of the individual event..

Source : AIR

Published On : April 25, 2024

Category : Sports

Q .

Who has been appointed as the brand ambassador of ICC Men's T20 World Cup 2024?

MS Dhoni

Lionel Messi

Usain Bolt

Sachin Tendulkar

Correct Answer : Usain Bolt

Legendary Jamaican sprinter Usain Bolt has been named by the International Cricket Council (ICC) as the ambassador for the 9th ICC Men’s T-20 World Cup, which will be hosted by the West Indies and the United States of America jointly from 1 to 29 June 2024.

As a brand ambassador, Usain Bolt will promote the World Cup event, attend T20 World Cup matches in the West Indies, and participate in fan engagement events to promote the cricket sport within the United States.

World Record Holder Legendary Sprinter Usain Bolt

* Usain Bolt, a keen cricket fan, is a legend in track and field athletics. In 2017, he set the world record in the 100-metre race. He also holds the record for winning three gold medals in three consecutive summer Olympics.

* In the 2008 Beijing Olympics, Bolt won gold in the men’s 100-metre, 200 metres and 4x100 metres. He created a new world record in all three events.

* At the 2012 London Olympics, he again won gold medals in the 100 metres, 200 metres and 4x100 metres.

* Finally, in the 2016 Rio Olympics, he won gold in 100 metres, 200 metres and 4x100 metres.

* Bolt currently holds world records in the 100 metres, 200 metres and 4x100 metres with times of 9.58 seconds, 19.19 seconds and 36.84 seconds, respectively.

9th ICC Men’s T- 20 World Cup 2004 Teams and Fixtures

The 9th ICC Men’s T-20 World Cup will be the biggest men’s T-20 World Cup in terms of participation. For the first time, 20 teams will participate in the T-20 World Cup. The West Indies and the United States of America will co-host the World Cup from 1 to 29 June 2024.

Published On : April 25, 2024

Category : Sports