- CRISIL reduced India’s expected GDP growth rate from 7.3% to 7.0% for FY23.
- The rating agency further added that the growth of India’s GDP will slow significantly to 6% in FY24.
- According to CRISIL, the global slowdown impacting exports and industrial activity was cited as the primary reason behind the cut.
- The agency also observed that long-term growth movements indicated India’s growth cycles to be remarkably synchronized since the 2000s with those of the advanced economies.
- CRISIL is a credit rating agency that was established in 1987 with its headquarters in Mumbai. The current CEO of the company is Amish Mehta.
Question:
Q.1 According to the credit rating agency CRISIL, what will be India’s expected GDP growth rate for FY23?a. 7.3%
b. 7.0%
c. 6.5%
d. 6.0%
