- India's Gross Domestic Product (GDP) in the first quarter (April-June) of the fiscal year grew by 13.5% as per the data released by the National Statistical Office (NSO).
- The GDP grew at a rate of 20.1% during the same period last year.
- However, it is less than the estimation made by the RBI in the latest Monetary Policy Meeting where the RBI said that the GDP growth rate was likely to be around 16.2% in the first quarter of this fiscal year.
- India's fiscal deficit stood at Rs 3.41 lakh crore in April-July, accounting for 20.5% of the full-year target.
- A Fiscal Deficit indicates the total borrowing that is needed by the government.
Question:
Q.1 What was the GDP growth rate of India in Q1 of FY23?a. 13.5%
b. 21.5%
c. 16%
d. 11.5%
