Correct Answer : Option (A) - 7%
The Reserve Bank of India (RBI) on Friday(30th Sep 2022) cut its economic growth estimate for fiscal year 2023 to 7% from 7.2% forecast earlier.
While it expects GDP growth to drop to 4.6% in the third and fourth quarter, respectively, from the estimated 6.3% in the second quarter, the broad expectation is that economic activity will recover by the first quarter of the next fiscal year.
India’s central bank has lowered its growth estimates on risks emanating from geopolitical tensions, monetary policy tightening across nations and elevated inflation.
Global growth is expected to slow down from 6.1% in 2021 to 3.2% in 2022 as the outlook is “gloomy and more uncertain,” RBI Governor "Shaktikanta Das" said in his speech on Friday(30th Sep 2022).
Several rating agencies have also recently trimmed their annual growth rate projections after GDP growth rate fell short of expectations in the past quarters..Source : Business Insider