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India's growth Rate Will come down to 6.4 percent in 2023-24: ADB

Published on April 08, 2023
Current Context: According to the Asian Development Bank (ADB), India's economic growth rate is expected to decline to 6.4 percent in the current financial year (2023-24).
India's growth Rate Will come down to 6.4 percent in 2023-24: ADB
  • It has projected a growth of 6.7% in the financial year 2024-25, driven by private consumption and private investment.
  • Growth in Asia is projected to exceed 4.8% this year and 4.2% in 2024. Inflation is projected to ease from 4.4% in 2022 to 4.2% in 2023 and 3.3% in 2024.
  • Growth moderation for India in FY23 is based on the current global economic slowdown, tight monetary conditions and higher oil prices.
  • India's fiscal deficit will remain below 5.9% of GDP.
  • Inflation is expected to ease to 5% in FY2023 and 4.5% in FY24 given the reduction in oil and food prices.
  • The current account deficit is projected to decline to 2.2% of GDP in FY2023 and 1.9% in FY2024.

Question :

Q.1 Recently ADB has estimated how much economic growth rate of India for the year 2023-24?
a. 6.2%
b. 6.3%
c. 6.4% 
d. 6.5%

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