Current Affairs - National - Discussion

Discussion :: National - Latest Current Affairs (Q.No.1042)

1042. 

According to Fitch's Global Economic Outlook for May, India's Gross Domestic Product is anticipated to how much decline in the current financial year due to the pandemic?

[A]. 5%
[B]. 4%
[C]. 4.8%
[D]. 3%

Answer: Option A

Explanation:

According to Fitch's Global Economic Outlook for May, India's Gross Domestic Product is anticipated to a 5% decline in the current financial year(ending March 2021) from its earlier forecast(late-April's GEO) of growth of 0.8% due to the pandemic. This is the biggest forecast cut to India. The growth contraction in the current fiscal is mainly due to a 8.3% and 9.7% contraction in consumer spending and fixed investment in FY21.

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