Correct Answer :   7.2%

Moody’s Ratings has raised India's GDP growth forecast to 7.2% for FY 2024, an increase from the earlier estimate of 6.8%.

This revision is attributed to resilient private consumption and improved business conditions in the country.

The rating agency also adjusted its 2025 growth projection to 6.6%, reflecting positive economic momentum.

Additionally, India recorded a strong 7.8% year-over-year growth in Q1 2024, highlighting the robust performance of its industrial and services sectors.

Correct Answer :   6.5%

The Reserve Bank of India (RBI) decided to maintain the repo rate at 6.5% during its August 2024 Monetary Policy Committee (MPC) meeting.

This decision marked the ninth consecutive instance of keeping the rate unchanged, reflecting the RBI's cautious stance amid economic uncertainties.

The 6.5% rate has been steady since February 2023, demonstrating the central bank's focus on maintaining economic stability.

The decision was made by a 4:2 majority within the committee, underscoring the challenges in navigating the current economic environment.

Correct Answer :   8.1%

India's fiscal deficit for the first quarter of FY25 stood at 8.1% of the full-year estimate, a notable decrease from 25.3% during the same period the previous year.

This reduction is due to increased tax collections and higher surplus payments from the RBI.

The fiscal deficit amounted to Rs. 1.36 lakh crore by the end of June 2024, indicating effective fiscal management and robust revenue growth.