SBI Revises FY23 economic growth Forecast to 7.5%

Current Context: According to SBI research it has projected the Indian economy to grow by 7.5 percent in 2022-23.

• The economy grew by 8.7 percent in FY22, net adding Rs 11.8 lakh crore in the year to Rs 147 lakh crore.
• The report has shown positive results on corporate revenue and profit, the growing bank credit, etc.
• Listed companies reported 29%top line growth and a 52 percent jump in net profit.
• Construction including cement, steel, etc reported 45% growth in revenue and 53% in net income.
• According to the report, the inflation target was kept at 6.5-6.7% for FY23.
• It has also been expected that RBI is likely to raise the repo rate cumulatively by 125-150 basis points and CRR by another 50 basis points.

Question:

Q.1 As per recent report of SBI research Indian economy has projected to grow at___________in 2022-23.
a. 8.7%

b. 7.5%
c. 6.7%
d. 8.2%