Indian Economy - Current Affairs Questions and Answers for Q. 19707

Q.  Indian economy is projected to grow at what percent in the current fiscal according to FICCI and CSO respectively?
- Published on 24 Feb 16

a. 7.4%, 7.6%
b. 7.5%, 7.7%
c. 7.4%, 7.6%
d. 7.5%, 7.6%

ANSWER: 7.4%, 7.6%
Indian economy is expected to grow at 7.4% in FY 2016, slightly lower than 7.6% projected by AE of CSO. FICCI’s Economic Outlook survey puts across a media GDP growth forecast of 7.4% in the current fiscal. CSO had earlier estimated that Indian economy will record a 5 year high growth of 7.6% in 2015-2016 based on enhanced performance in farm and manufacturing sectors. FICCI poll was conducted in Jan/Feb 2016 and it estimated that agriculture sector will experience record growth of 1.7% in 2015-2016, 0.3 percentage points lower than what was the estimated growth in the round before this. The median forecast for Wholesale Price Index based inflation rate for 2015-16 has been put at (-)1.8 percent, with a minimum and maximum range of (-)2.8 percent and (-) 0.4 percent, respectively. The Consumer Price Index based inflation has a median forecast of 5 percent for 2015-16, with a minimum and maximum range of 4.6 percent and 6.3 percent, respectively.

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