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MoSPI projected GDP deflator forecast for FY23 at 3-3.5%

Ministry of statistics and programme implementation (MoSPI) has projected India’s gross domestic product (GDP) deflator for FY23 at 3 to 3.5%.

Sumit Arora Published On February 16th, 2022 Leave a comment

Ministry of statistics and programme implementation (MoSPI) has projected India’s gross domestic product (GDP) deflator for FY23 at 3 to 3.5%. The Government’s own projection on real GDP growth for FY23 is at 7.6-8.1% and the union budget projected nominal GDP growth rate to be 11.1% for FY23. GDP Projection in the Budget is based on advance estimates of the ‘National Statistical Office’ (NSO).

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Economic Survey 2021-22 projected a real GDP growth rate of 8-8.5 per cent in FY23. RBI projected India’s real GDP growth of 7.8 per cent in FY23 and retail inflation of 4.5 per cent for FY23. The GDP deflator, or implicit price deflator, is a measure of inflation and is the difference between nominal GDP and real GDP.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.