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Today General Knowledge(GK)
The United Nations has slashed India's growth forecast by 20 basis points to ____percent for the 2023 calendar year.
A)
6.7 percent
B)
6.2 percent
C)
5.8 percent
D)
5.3 percent

Correct Answer : Option (C) - 5.8 percent



The United Nations (UN) has cut its GDP growth forecast for India for calendar year 2023 to 5.8 percent, citing the effect of tighter monetary policy and weak global demand.
 
"Growth in India is expected to remain strong at 5.8 percent, albeit slightly lower than the estimated 6.4 percent in 2022, as higher interest rates and a global slowdown weigh on investment and exports," the UN's World Economic Situation and Prospects 2023 report, published on January 25,2023.

The report is written by the UN's Department of Economic and Social Affairs, the UN Conference on Trade and Development, and the regional economic commissions for Africa, Europe, Latin America and the Caribbean, Asia and the Pacific, and Western Asia.

Like several other central banks around the world, the Reserve Bank of India (RBI) reacted to elevated inflation and hiked the policy repo rate by 225 basis points in 2022 to 6.25 percent...

Source : CNBC

Published On : January 27, 2023
Category : Indian Economy
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