What is the projected GDP of India in FY21 as per RBI's Monetary Policy Committee(MPC) meeting(October 2020)?
[A].
- 9.5%
[B].
- 10%
[C].
- 7.5%
[D].
- 12.2%
Answer: Option A
Explanation:
The 6 member 25th Monetary Policy Committee (MPC) meeting of Reserve Bank of India(RBI) was held from October 7-9,2020 which was headed by RBI Governor Shaktikant Das.During the meeting it was projected that the economy will contract by 9.5%in 2020-2021 amid COVID -19 with risks tilted to the downside : (-)9.8% in Q2/2020-21, (-)5.6% in the third quarter, and 0.5% in the fourth quarter.
