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Indian Economy to Grow by 12-13% Expected by Rating Agency ICRA

Published on May 18, 2022
Current Context: According to ICRA's recent report, the Indian economy will likely grow by 12-13% as per the maintained GDP projection of 7.2%.
Indian Economy to Grow by 12-13% Expected by Rating Agency ICRA
  • The business activity monitor was kept at 115.7 for April which is 16% higher than the last year. The same growth will be expected to be maintained in May.
  • As per ICRA, The Consumer Price Index is expected to average at 6.3-6.5 percent this fiscal year.
  • The main reason for high inflation is the Ukraine war which directly impacted the prices of fuel.
  • ICRA expected that RBI will be going to increase policy rates by 25 basis points in June and August policies so they decided to maintain the GDP Projections of the country at 7.2%.
  • This Projection has been calculated by using high-frequency indicators related to 14 industrial and service sectors like coal, electricity generation, rail freight traffic, etc. which gauge economic activity each month.
  • The index stood at 123.7 in March compared to 107.8 in February.
  • Static Part:
    • ICRA: Investment Information and Credit Rating Agency of India
    • Establishment Year: 1991
    • Headquarters: Gurgaon, India

Question:

Q.1 According to ICRA the GDP projection of India is maintained at what percentage?
a. 6.3%
b. 8.2%
c. 7.2%
d. 9.2%
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