A major decline in gross domestic product (GDP) growth is expected in FY 2022-23 as compared to the previous year amid a deteriorating external environment. According to the estimates of the World Bank, the GDP growth rate is expected to come down to 6.9% in the financial year 2022-23, which is considered a big decline as compared to 8.7% in 2021-22. However, this is an improvement over the October estimate, as the World Bank had projected a GDP growth of 6.5 percent for 2022-23 in October.
Impact on GDP due to rising inflation
To control rising inflation, central banks around the world, including the Reserve Bank of India, are continuously increasing their interest rates. This has a direct impact on the country's gross domestic product. Along with this, due to the Corona lockdown in China, the supply chain of the whole world has been badly affected. In such a situation, the fear of recession has increased in the whole world.
What is GDP
Gross Domestic Product (GDP) is the total value of all goods and services produced in a country in a year. GDP shows the level of economic activity and it shows which sectors have led to growth or decline. The GDP is estimated by the Ministry of Statistics and Program Implementation, Government of India.
Bangladesh: Bangladesh is facing the brunt of sanctions on Russia on many fronts
A big problem has arisen in front of Bangladesh to pay Russia. He has to pay for this instead of the nuclear plant being built in the country with the help of Russia. A problem with this is that
Aftab's voice sampling test today: Police have audio of Aftab-Shraddha's fight, if the voice matches, then the reason for the murder can be known
The voice sampling test of Aftab Poonawala, the main accused in the Shraddha murder case, will be done today i.e. on Monday. For this Delhi Police is taking the accused from Tihar Jail to CBI
Syria shaken by Israel's missile attack, rapid attacks targeting the international airport
The Israeli army fired missiles at the Syrian capital's international airport on Monday morning amid rising tensions between Israel and Syria. The Syrian army said that two soldiers were killed in the
World Cup: 'Committed to winning the World Cup for the fans', Virat Kohli and Ravindra Jadeja told the team's goal
Veteran batsman Virat Kohli has said that he and his teammates are ready to give their best performance in the upcoming ODI World Cup to be held at home. He said that the team is committed to making
WTC Final: India reached the final of the championship because of Sri Lanka, not because of the performance in the fourth test
The Indian cricket team has reached the final of the World Test Championship. New Zealand won the first Test played against Sri Lanka in Christchurch to take India to the final. India needed a defeat
Project K Prabhas: 'Cheap Iron Man is looking', seeing the look of Prabhas, users got angry on social media
These days Telugu cinema superstar Prabhas is in a discussion about his upcoming film 'Project K'. The first look of the entire star cast from their film will be revealed to the fans tomorrow i.e. on
LSG vs MI: After Mumbai's third defeat, captain Hardik Pandya got angry at the batsmen and bowlers, know what he said
After losing the IPL match against Lucknow Supergiants by 12 runs in IPL 2025, Mumbai Indians captain Hardik Pandya on Friday said that his team conceded 10-12 runs more while bowling. In the
Signature Bank : After SVB, now Signature Bank is also closed, and FDIC takes control
State regulators also shut down New York-based Signature Bank on Sunday. This made it the third-largest failure in US banking history. News of the Signature Bank failure follows Friday's shutdown of
Gujarat Vibrant Conference: India becomes the center of global development, PM Modi said- 'The country will be the third largest economy in the world in a few years'
PM Narendra Modi has said that in this era of global instability, India has established itself as a ray of hope and is being seen as an engine of global development, a reliable friend, and stability.
PM Modi: 'Our youth power can do wonders', PM Modi reiterated his commitment to providing opportunities to the youth
Prime Minister Narendra Modi praised the One Nation One Subscription scheme approved by the Union Cabinet on Thursday. Regarding the opportunities available to the youth, he said that the government
