_____________ is the estimated GDP growth rate for the first quarter of FY2024 , as per RBI’s Economic Activity Index ?

(a) 51%

(b) 7.6%

(c) 137%

(d) 78%

Ans.(b)

Sol. The RBI’s economic activity index nowcasts a GDP growth rate of 7.6% for the first quarter of FY24. Partial data available for April 2023, coupled with an assumed GDP growth rate of 5.1% for Q4 FY23, has led to the projection of a robust 7.6% GDP growth for Q1 FY24, according to the RBI’s monthly bulletin.