India’s economy grew at its quickest rate in a year in the June quarter. GDP for the three months ending June 30 was likely 15.2% higher than it was a year earlier.
According to economists, India’s economy probably experienced its fastest annual expansion in a year in the April-June quarter. However, they predict that the pace will sharply slow this quarter and the following two as higher interest rates have a negative impact on economic activity. A year ago, the GDP increased by 4.1% from January to March.
India’s GDP increased annually for the last time in April–June 2021, when it increased by 20.1% over the pandemic-depressed level from the previous year.
While issuing a caution over the effects of a global downturn on local development prospects, the Reserve Bank of India (RBI) increased its benchmark repo rate by 140 basis points since May,50 basis points this month included.
According to the most recent Reuters poll, experts predicted that GDP this quarter would decline substantially to an annual 6.2% before slowing even further to 4.5% in October-December.
1- Do imported items become costlier because of the depreciation of the Indian rupee?
Ans – Yes
2- Is the depreciation in Indian currency a loss for our business man ?
Ans – Yes it cost the product more.
3- What is the GDP of the 3 months to June 30?
Ans – it is 15.2% higher than a year earlier