Correct Answer : 6.8%
S&P Global retained India's GDP growth forecast for 2024-25 at 6.8%. * Despite revisions for subsequent years, this figure reflects confidence in India's economic stability for the stated period. * Factors influencing the forecast include high interest rates and a reduction in fiscal impetus, which may dampen urban demand. * However, the retained growth rate suggests resilience in other sectors offsetting these challenges.
Correct Answer : 6.2%
In October 2024, India's Consumer Price Index (CPI) or retail inflation surged to 6.2%, marking the highest inflation rate since August 2023. This increase was primarily driven by a rise in food prices, with food inflation reaching a 15-month high. Despite global inflation easing, India continued to experience persistent price pressures, which were exacerbated by factors like extreme weather events, global price volatility, and rising core inflation. The surge in CPI surpassed the Reserve Bank of India's upper tolerance limit of 6%.
Correct Answer : Zomato
* Zomato, the leading online food delivery platform, will join the prestigious BSE Sensex index, replacing JSW Steel. * This development reflects Zomato's impressive growth and significant stock price rally over the past year. * The reconstitution, effective December 23, 2024, also includes changes in other indices like BSE 100, BSE Sensex 50 and BSE Sensex Next 50. * Zomato's inclusion in the BSE Sensex marks a major milestone, solidifying its position among India's top 30 stocks.
Correct Answer : 6.7%
Morgan Stanley has downgraded India’s FY25 growth forecast from 7% to 6.7%, citing weaker-than-expected performance in Q2. However, a recovery is anticipated in the second half of FY25, supported by improved agricultural output and increased government spending. Additional factors such as easing inflation and potential monetary policy adjustments by the Reserve Bank of India in April 2025 are expected to contribute to economic stabilization. Despite the short-term challenges, the firm remains optimistic about growth prospects in the latter part of FY25.
Correct Answer : 7%
India has taken the lead in the G20 with an impressive 7% GDP growth rate projected for 2024, surpassing other major economies. This growth rate is significantly higher than Indonesia's 5% and China's 4.8%. The G20 represents a substantial portion of the global economy, accounting for 88% of global GDP, 78% of international trade, and nearly three-quarters of the world's population. India's strong growth prospects are driven by domestic consumption demand and steadily improving investment demand.
Correct Answer : 8.9%
India's GST collections in October 2024 surged to Rs 1.87 lakh crore, marking an 8.9% increase year-on-year. This growth is attributed to stronger domestic transactions, with domestic GST revenue growing by 10.6% year-on-year, outpacing the 3.9% growth in GST revenue from imports. The robust collection represents the second-highest level of monthly GST collections since the indirect tax regime's inception in July 2017. This rebound follows a three-year low growth rate in September, indicating a positive trend in the economy.
Correct Answer : 6.9-7.1%
The National Institute of Public Finance and Policy (NIPFP) has revised India's GDP growth forecast for FY25 to a range of 6.9-7.1%. This adjustment reflects a notable moderation in growth observed during the June quarter, largely due to a significant contraction in net exports and reduced government consumption, influenced by the election model code of conduct. Previously, NIPFP had estimated a higher growth range of 7.1-7.4%. The downgrade highlights the challenges facing the economy, including a reported 19.5% decrease in capital expenditure during the April-August 2024 period compared to the previous year.
Correct Answer : 7.2%
The Reserve Bank of India (RBI) has projected a GDP growth rate of 7.2% for the financial year 2024-25. This optimistic projection is attributed to strong domestic demand, low raw material costs, and robust growth in the manufacturing sector. While the first quarter recorded a growth rate of 6.7%, the RBI has forecasted steady increases for the remaining quarters, with GDP growth rates of 7%, 7.4%, and 7.4% for Q2, Q3, and Q4 respectively.The Monetary Policy Committee, in a 5:1 vote, decided to keep interest rates unchanged.
The Asian Development Bank (ADB) has retained its forecast for India's GDP growth rate at 7% for FY24, driven by strong performance in agriculture, industry, and services. This growth rate is attributed to the government's fiscal consolidation efforts and resilience amidst global geopolitical challenges. Key growth drivers for FY24 include agricultural improvements, robust performance in the industrial and services sectors, and rural spending. The ADB also forecasts a growth rate of 7.2% for FY25, driven by private investments, urban consumption, and job creation through employment-linked incentives.
The International Monetary Fund (IMF) has revised India's GDP growth forecast for FY2024-25 to 7%, an increase from the previous estimate of 6.8%.This upward revision is attributed to stronger private consumption, especially in rural areas. India's economy is expected to remain robust, solidifying its position as one of the fastest-growing major economies globally, with projected growth continuing into FY2025-26.
