What is the projected growth rate of India for 2020-21 as per Reserve Bank of India’s annual report 2019-20?
Answer with explanationAnswer: Option C
Reserve Bank of India (RBI) released its Annual Report for 2019-20. It is Report of the Central Board of Directors on the working of the Reserve Bank of India (RBI) for the year ended June 30, 2020 submitted to the Central Government in terms of Section 53(2) of the Reserve Bank of India Act, 1934 In the report, RBI projected that India’s growth at minus (-) 4.5% for 2020-21. It will be (-) 3.7% in the single hit scenario and (-) 7.3% in the double hit scenario in FY2020-21. On the global front, the growth is projected at (-) 6.0% in the single hit scenario and (-) 7.6% in the double hit scenario in FY20-21.
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