{"id":44352,"date":"2021-03-05T17:29:50","date_gmt":"2021-03-05T11:59:50","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=44352"},"modified":"2022-01-19T14:51:29","modified_gmt":"2022-01-19T09:21:29","slug":"indian-gdp-growth-rate-details","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/indian-gdp-growth-rate-details\/","title":{"rendered":"Indian GDP Growth Rate &#8211; Current Scenario | India&#8217;s GDP Growth Forecast 2022"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/indian-gdp-growth-rate-details\/#Indias_GDP_Growth_Forecast_2021-22_2022-23\" >India\u2019s GDP Growth Forecast 2021-22 &amp; 2022-23<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/indian-gdp-growth-rate-details\/#Indias_GDP_Growth_Forecast_2020-21_2021-22\" >India\u2019s GDP Growth Forecast 2020-21 &amp; 2021-22<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/indian-gdp-growth-rate-details\/#Worlds_GDP_Growth_Forecast_2020-21_2021-22\" >World&#8217;s GDP Growth Forecast 2020-21 &amp; 2021-22<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.oliveboard.in\/blog\/indian-gdp-growth-rate-details\/#What_is_GDP\" >What is GDP?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.oliveboard.in\/blog\/indian-gdp-growth-rate-details\/#Current_Scenario_in_India_GDP_Growth_Rate\" >Current Scenario in India GDP Growth Rate:<\/a><\/li><\/ul><\/nav><\/div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Nowadays the newspapers are filled with news about the <strong>Indian GDP Growth Rate<\/strong> like, GDP forecasts revised, etc. Every serious aspirant of Banking and Government Exams like <a href=\"https:\/\/www.oliveboard.in\/lic-aao\/?ref=Tsh\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #3366ff;\">RBI<\/span><\/a><span style=\"color: #3366ff;\">, <a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/sebi\/?ref=tsh\" target=\"_blank\" rel=\"noopener\">SEBI<\/a>, <a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/nabard-assistant\/?ref=tsh\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline;\">NABARD<\/span><\/a>, <a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/ibps-po\/?ref=tsh\" target=\"_blank\" rel=\"noopener\">IBPS PO<\/a>,<\/span> etc must know the importance of these news items on <strong>Indian GDP.<\/strong> Questions have been repeatedly asked on these topics in all the above-mentioned exams. Hence to help our readers gain an edge over their competitors we are going to provide you with all the details you need to know about the Current State of the <strong>Indian GDP Growth Rate<\/strong>, Its impact, Steps to revival, etc. In this blog post, we would also look at India&#8217;s GDP Growth Forecast 2020-21, 2021-22, and 2022-23 by various Financial Organizations in India and around the world. These forecasts are mostly asked in the General\/Economy\/Banking Awareness section in various Banking &amp; Insurance Exams. Let us revise these and make sure that not a single mark is lost if the question is asked around this topic.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Indias_GDP_Growth_Forecast_2021-22_2022-23\"><\/span><span id=\"India8217s_GDP_Growth_Forecast_2019\" style=\"color: #000000;\"><strong>India\u2019s GDP Growth Forecast 2021-22 &amp; 2022-23<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<tbody>\n<tr>\n<td width=\"159\"><strong>ORGANISATION<\/strong><\/td>\n<td width=\"172\"><strong>REPORT<\/strong><\/td>\n<td width=\"142\"><strong>FY 2021<\/strong><\/td>\n<td width=\"129\"><strong>FY 2022<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>IMF<\/strong><\/td>\n<td width=\"172\">World Economic Outlook<\/td>\n<td width=\"142\">11.5%(2021)<\/td>\n<td width=\"129\">8.5%<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>World Bank<\/strong><\/td>\n<td width=\"172\">Global Economic Prospects\u00a0Report<\/td>\n<td width=\"142\">5.4%<\/td>\n<td width=\"129\">8.3%<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>Fitch<\/strong><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\">11%<\/td>\n<td width=\"129\">8.7%(updated 7 oct)<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>RBI<\/strong><\/td>\n<td width=\"172\">Monetary Policy<\/td>\n<td width=\"142\">10.5%<\/td>\n<td width=\"129\">9.5%<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>FICCI<\/strong><\/td>\n<td width=\"172\">FICCI\u2019s Economic Outlook<\/td>\n<td width=\"142\"><\/td>\n<td width=\"129\">9.1%<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>Asian Development Bank<\/strong><\/td>\n<td width=\"172\">Asian Development Outlook<\/td>\n<td width=\"142\">8%<\/td>\n<td width=\"129\">9.7%<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>Moody\u2019s<\/strong><\/td>\n<td width=\"172\">Global Macro Outlook 2021-22<\/td>\n<td width=\"142\">13.7%<\/td>\n<td width=\"129\">9.3%(FY22) and 7.9%(FY23)<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>CRISIL<\/strong><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\">10%<\/td>\n<td width=\"129\">9.5%<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>OECD (Organisation for Economic Co-Operation and Development)<\/strong><\/td>\n<td width=\"172\">OECD Economic Outlook<\/td>\n<td width=\"142\">7.9%<\/td>\n<td width=\"129\">9.4%<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>State Bank of India<\/strong><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\">11%<\/td>\n<td width=\"129\">9.5%<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>Morgan Stanley<\/strong><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\">9.8% (2021)<\/td>\n<td width=\"129\">7.8%<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>NCAER (The National Council of Applied Economic Research)<\/strong><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\"><\/td>\n<td width=\"129\">8.4-10.1%<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>Ind-Ra\u00a0<\/strong><strong>India\u00a0Ratings and Research<\/strong><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\">10.4%<\/td>\n<td width=\"129\">9.3%<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>Goldman Sachs<\/strong><\/td>\n<td width=\"172\">India 2021 Outlook<\/td>\n<td width=\"142\">13%<\/td>\n<td width=\"129\">9.1%<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>UN<\/strong><\/td>\n<td width=\"172\">World Economic Situation and Prospects<\/td>\n<td width=\"142\">7.3% (2021)<\/td>\n<td width=\"129\">6.5%<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>Economic Survey<\/strong><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\">11%<\/td>\n<td width=\"129\">11 %<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>Oxford Economics<\/strong><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\">10.2% (2021)<\/td>\n<td width=\"129\">7.9<\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><strong>IHS Markit<\/strong><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\">8.9%<\/td>\n<td width=\"129\">9.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Indias_GDP_Growth_Forecast_2020-21_2021-22\"><\/span><span id=\"India8217s_GDP_Growth_Forecast_2019\" style=\"color: #000000;\"><strong>India\u2019s GDP Growth Forecast 2020-21 &amp; 2021-22<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<tbody>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>ORGANISATION<\/strong><\/span><\/td>\n<td width=\"172\"><span style=\"color: #000000;\"><strong>REPORT<\/strong><\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\"><strong>FY 2020-21<\/strong><\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\"><strong>FY 2021-22<\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>IMF<\/strong><\/span><\/td>\n<td width=\"172\"><span style=\"color: #000000;\">World Economic Outlook<\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-8% (2020)<\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">11.5% (2021)<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>World Bank<\/strong><\/span><\/td>\n<td width=\"172\"><span style=\"color: #000000;\">Global Economic Prospects\u00a0Report<\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-9.6%<\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">5.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>Fitch<\/strong><\/span><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-9.4%<\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">11%<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>RBI<\/strong><\/span><\/td>\n<td width=\"172\"><span style=\"color: #000000;\">Monetary Policy<\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-7.5%<\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">10.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>FICCI<\/strong><\/span><\/td>\n<td width=\"172\"><span style=\"color: #000000;\">FICCI\u2019s Economic Outlook<\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-8%<\/span><\/td>\n<td width=\"129\"><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>Asian Development Bank<\/strong><\/span><\/td>\n<td width=\"172\"><span style=\"color: #000000;\">Asian Development Outlook<\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-8%<\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">8%<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>Moody\u2019s<\/strong><\/span><\/td>\n<td width=\"172\"><span style=\"color: #000000;\">Global Macro Outlook 2021-22<\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-7%<\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">13.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>CRISIL<\/strong><\/span><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-7.7%<\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">10%<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>OECD (Organisation for Economic Co-Operation and Development)<\/strong><\/span><\/td>\n<td width=\"172\"><span style=\"color: #000000;\">OECD Economic Outlook\u00a0<\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-9.9%<\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">7.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>State Bank of India<\/strong><\/span><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-7%<\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">11%<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>Morgan Stanley<\/strong><\/span><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-5.7% (2020)<\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">9.8% (2021)<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>NCAER (The National Council of Applied Economic Research)<\/strong><\/span><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-7.3%<\/span><\/td>\n<td width=\"129\"><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>Ind-Ra <\/strong><strong>India\u00a0Ratings and Research<\/strong><\/span><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-7.8%<\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">10.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>Goldman Sachs<\/strong><\/span><\/td>\n<td width=\"172\"><span style=\"color: #000000;\">India 2021 Outlook<\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-10.3%<\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">13%<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>UN<\/strong><\/span><\/td>\n<td width=\"172\"><span style=\"color: #000000;\">World Economic Situation and Prospects\u00a0<\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-9.6% (2020)<\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">7.3% (2021)<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>Economic Survey<\/strong><\/span><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-7.7%<\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">11%<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>Oxford Economics<\/strong><\/span><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\"><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">10.2% (2021)<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>IHS Markit<\/strong><\/span><\/td>\n<td width=\"172\"><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-8.9%<\/span><\/td>\n<td width=\"129\"><span style=\"color: #000000;\">8.9<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<hr \/>\n<h2><span class=\"ez-toc-section\" id=\"Worlds_GDP_Growth_Forecast_2020-21_2021-22\"><\/span><span id=\"India8217s_GDP_Growth_Forecast_2019\" style=\"color: #000000;\"><strong>World&#8217;s GDP Growth Forecast 2020-21 &amp; 2021-22<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<tbody>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>ORGANISATION<\/strong><\/span><\/td>\n<td width=\"162\"><span style=\"color: #000000;\"><strong>REPORT<\/strong><\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\"><strong>Calendar Year (2020)<\/strong><\/span><\/td>\n<td width=\"138\"><span style=\"color: #000000;\"><strong>Calendar Year (2021)<\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>IMF<\/strong><\/span><\/td>\n<td width=\"162\"><span style=\"color: #000000;\">World Economic Outlook<\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-3.5% (2020)<\/span><\/td>\n<td width=\"138\"><span style=\"color: #000000;\">5.5% (2021)<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>World Bank<\/strong><\/span><\/td>\n<td width=\"162\"><span style=\"color: #000000;\">Global Economic Prospects\u00a0Report<\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-4.3% (2020)<\/span><\/td>\n<td width=\"138\"><span style=\"color: #000000;\">4% (2021)<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>Fitch<\/strong><\/span><\/td>\n<td width=\"162\"><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-3.7% (2020)<\/span><\/td>\n<td width=\"138\"><span style=\"color: #000000;\">5.3% (2021)<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>OECD (Organisation for Economic Co-Operation and Development)<\/strong><\/span><\/td>\n<td width=\"162\"><span style=\"color: #000000;\">OECD Economic Outlook\u00a0<\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-4.2% (2020)<\/span><\/td>\n<td width=\"138\"><span style=\"color: #000000;\">4.2% (2021)<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>Morgan Stanley<\/strong><\/span><\/td>\n<td width=\"162\"><\/td>\n<td width=\"142\"><\/td>\n<td width=\"138\"><span style=\"color: #000000;\">6.4% (2021)<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>Goldman Sachs<\/strong><\/span><\/td>\n<td width=\"162\"><span style=\"color: #000000;\">India 2021 Outlook<\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-3.7% (2020)<\/span><\/td>\n<td width=\"138\"><span style=\"color: #000000;\">6.3% (2021)<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>UN<\/strong><\/span><\/td>\n<td width=\"162\"><span style=\"color: #000000;\">World Economic Situation and Prospects\u00a0<\/span><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-4.3% (2020)<\/span><\/td>\n<td width=\"138\"><span style=\"color: #000000;\">4.7% (2021)<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"159\"><span style=\"color: #000000;\"><strong>IHS Markit<\/strong><\/span><\/td>\n<td width=\"162\"><\/td>\n<td width=\"142\"><span style=\"color: #000000;\">-3.7% (2020)<\/span><\/td>\n<td width=\"138\"><span style=\"color: #000000;\">5.0% (2021)<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong><span style=\"color: #000000;\">Free eBook: GDP Projections for India &amp; the World: <a href=\"http:\/\/bit.ly\/3qklDeL\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #3366ff;\">http:\/\/bit.ly\/3qklDeL<\/span><\/a><\/span><\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Check out Oliveboard\u2019s <strong>Online Preparation Courses<\/strong> for <span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/rbi-grade-b\/?ref=Rbihny\" target=\"_blank\" rel=\"noopener\"><strong>RBI Grade B<\/strong><\/a><\/span>, <strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/rbi-grade-b\/?ref=Rbihny\" target=\"_blank\" rel=\"noopener\">SEBI Grade A<\/a><\/span>,<\/strong> and <span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/rbi-grade-b\/?ref=Rbihny\" target=\"_blank\" rel=\"noopener\"><strong>NABARD Grade A<\/strong><\/a><\/span> Exams.<\/span><\/p>\n<hr \/>\n<h2><span class=\"ez-toc-section\" id=\"What_is_GDP\"><\/span><span style=\"color: #000000;\"><b>What is GDP?<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">GDP or as we call it Gross Domestic Product is the measure of all the final products and goods monetarily that are produced in a specific time, mostly considered annually and seldom taken quarterly. After many hindrances in 1944 GDP became an official tool for determining the country\u2019s economy.<\/span><\/p>\n<h3><span style=\"color: #000000;\"><b>How is GDP calculated?<\/b><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">GDP = private consumption + gross investment + government investment + government spending + (exports \u2013 imports).<\/span><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=tsh\" target=\"_blank\" rel=\"noopener\"><strong><span style=\"color: #3366ff;\">Take a Free Mock Test Now for Bank Exams preparation<\/span><\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Current_Scenario_in_India_GDP_Growth_Rate\"><\/span><span style=\"color: #000000;\"><b>Current Scenario in India GDP Growth Rate:<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The Indian Economy went into the trench with the release of this quarter\u2019s GDP, It has plunged to as low as 5% as compared to 5.8% from quarter 2 this year. It is lower than the market estimate of 5.7%. The latest growth rate numbers are the lowers since the first quarter of 2013. Manufacturing, automobiles, and construction sectors are the worst hit among all.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">There are many other sectors that are facing the slowdown that has led to the downfall of the economy amidst the crisis. Apart from the 2 mentioned above mining and Financial sector are few other sectors that have taken the hit.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">This fall in the GDP is the worst in the last 6 years.<\/span><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=tsh\" target=\"_blank\" rel=\"noopener\"><strong><span style=\"color: #3366ff;\">Take a Free Mock Test Now for Bank Exams preparation<\/span><\/strong><\/a><\/p>\n<h3><span style=\"color: #000000;\"><b>Why did the Indian GDP Growth Rate reach the current levels?<\/b><\/span><\/h3>\n<p><span style=\"color: #000000;\">There were various steps involved in the sudden fall of the Indian Economy:<\/span><\/p>\n<ol>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">The supply created in certain sectors was more than the requirements which eventually resulted in the fall of the economy.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">Excessive interest rates on certain entities also amount to the increase in supply and decrease in demand.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">Inflation is also one of the major causes for the depleted GDP as the shift of users from purchasing an expensive product to shifting to a reasonable product just because the economy is affecting the wage growth is also one of the reasons.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">Government spending reduction can directly be proportional to the fall in GDP as the daily wage worker are highly reliant on these incomes. As soon as the government stops the payment for these sectors this highly affects the GDP rate.<\/span><\/li>\n<\/ol>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=tsh\" target=\"_blank\" rel=\"noopener\"><strong><span style=\"color: #3366ff;\">Take a Free Mock Test Now for Bank Exams preparation<\/span><\/strong><\/a><\/p>\n<h3><span style=\"color: #000000;\"><b>Effects of falling Growth Rate of Indian GDP on the current economy:<\/b><\/span><\/h3>\n<ol>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">The value of money is falling in comparison with the US Dollar which in return causes the prices of utilities to inflate<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">Unemployment has also taken a toll in this scenario. There are various sectors that are facing job cutoffs.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">Optimism in the market has fallen to an all-time low first time since 2013.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">The average income of all the sections of the society is impacted by the fall.<\/span><\/li>\n<\/ol>\n<h3><span style=\"color: #000000;\"><b>What steps are needed to revive the Falling Indian GDP Growth Rate?<\/b><\/span><\/h3>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">As per the expectations of Leading economists, it is estimated that the next 2 months are very crucial for the Indian market. It is expected that the GDP will be stabilized after the festive season kicks in.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">Many experts believe that there need to be more interest rate cuts to help stabilize the situation.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">Fixing the liquidity crisis will also be a crucial step. Increasing the cash flow is very important for the revival of the plunging economy. More cash flow would ensure the balance between manufacture and purchase.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">Many economists believe that the recently taken steps are not enough to help revive the situation. Simply increasing the supply without creating the demand will simply deteriorate the condition even more. Hence focus should also be on increasing the demand.<\/span><span style=\"color: #000000;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=tsh\" target=\"_blank\" rel=\"noopener\"><strong><span style=\"color: #3366ff;\">Take a Free Mock Test Now for Bank Exams preparation<\/span><\/strong><\/a><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">That is all from us in the blog on India&#8217;s GDP Growth Forecast 2020-21 and <strong>Current State of the Indian GDP Growth Rate<\/strong>. Keep checking this space for all the latest Exam updates, Study Materials, Free Ebooks, etc. All the best for your exam preparation.<\/span><\/p>\n<p><strong>Also Check:<\/strong><\/p>\n<ul>\n<li><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=nik\" target=\"_blank\" rel=\"noopener\"><strong>100+ Free Mock Tests<\/strong><\/a><\/span><\/li>\n<li><span style=\"color: #3366ff;\"><strong><a style=\"color: #3366ff;\" href=\"https:\/\/play.google.com\/store\/apps\/details?id=in.oliveboard.prep\" target=\"_blank\" rel=\"noopener\">Oliveboard Mobile App<\/a><\/strong><\/span><\/li>\n<li><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/discuss.oliveboard.in\/?ref=hny\" target=\"_blank\" rel=\"noopener\"><strong>Oliveboard\u2019s discuss forum<\/strong><\/a><\/span><\/li>\n<li><span style=\"color: #3366ff;\"><strong><a style=\"color: #3366ff;\" href=\"https:\/\/t.me\/obbanking\">Oliveboard Telegram Group<\/a><\/strong><\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Nowadays the newspapers are filled with news about the Indian GDP Growth Rate like, GDP forecasts revised, etc. Every serious<\/p>\n","protected":false},"author":1,"featured_media":70816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,31,62,5221,550,2586,10237,320,10247,8661],"tags":[],"class_list":["post-44352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-bank-exams","category-government-exams","category-homepage-featured","category-nabard","category-notes","category-preparation-resources","category-rbi-grade-b","category-rbi-sebi-nabard","category-sebi-prep","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Current State of Indian GDP | India&#039;s GDP Growth Forecast 2022-23<\/title>\n<meta name=\"description\" content=\"What&#039;s the current Indian GDP Growth Rate? 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