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| Moody’s cuts India’s GDP forecast to 7.7% from 8.8% for FY-2022 | Daily Current Affairs Dose |
Our Daily Current Affairs Dose 2022 will help you to crack the General Awareness section of Banking Insurance SSC Railway UPSC and all government jobs exams.
Moody’s cuts India’s GDP forecast to 7.7% from 8.8% for FY-2022 | Daily Current Affairs Dose
The global credit rating agency Moody's has slashed India's Gross Domestic Product (GDP) growth forecast to 7.7% from 8.8% for the fiscal year 2022.
According to the global credit rating agency Moody's latest report, India's projected growth rate is estimated to be 7.7 percent in 2022, which was 8.3 percent in 2021. It is also expected that the growth rate will be 5.2 percent from 5.4 percent in 2023.
As per Moody's, this slowdown in India's growth rate means that rising interest rates, uneven distribution of monsoon and slow global growth will slow the economic momentum on a sequential basis.
Earlier, as per provisional estimates released by the National Statistical Office (NSO) on 31st August 2022, the Indian economy expanded 13.5 per cent in April-June 2022-23, which is higher than 4.10 per cent growth clocked in the previous March quarter.
Important facts for upcoming exams from the above Current Affairs Topic
- President of India: Droupadi Murmu
- Vice President of India: Jagdeep Dhankhar
- Prime Minister of India: Narendra Modi
- Chief Justice of India: Uday Umesh Lalit
- Lok Sabha Speaker of India: Om Birla
- Capital of India: New Delhi
- Largest city of India: Mumbai
- Official languages of India: Hindi / English
- Currency of India: Indian rupee (₹) (INR)
- Total Population of India 2018 estimate: Neutral increase 1,352,642,280
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