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Indian Economy to Contract by 1.5% in FY21—By RBI

Published on June 06, 2020
Current Context: The Reserve Bank of India has released a survey report describing that Indian economy to contract 1.5% for the financial year of 2021.
Indian Economy to Contract by 1.5% in FY21—By RBI
  • The GDP to contract 1.5% for the financial year of 2020-21.
  • But for the next financial year, the GDP is likely to grow by 7.2% as per the survey report of Professional forecasters sponsored by RBI.
  • The real gross fixed capital formation (GFCF) has registered a negative growth of 6.4% for FY 2020-21. However, it is expected to grow by 5.6% in 2021-22.
  • The real gross value added (GVA) has also declined by 1.7% for FY 2020-21. The real private final consumption expenditure (PFCE) has also declined by 0.5% for FY 2020-21and will grow by 6.9% for 2021-22.
  • The consumer price index (CPI) is expected to be 5.6% in quarter first of 2020-21 and then to be moderate to 2.8% for the fourth quarter of 2020-21.
  • Static Part: 
    • HQ of RBI: Mumbai, Maharashtra
    • Governor of RBI: Shaktikanta Das

Question: 

Q.1 As per RBI Indian Economy to contract by ____% in FY21?
a. 1.7%
b. 1.6%
c. 1.5%
d. 1.4%
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