RBI MPC 2023 latest: The central bank has proposed to hike the limit of UPI transactions in hospitals and educational institutions to Rs 5 lakh, says Governor Shaktikanta Das.
The second downward revision in real GDP in six months follows a setback in first-quarter GDP, when the actual GDP of 13.5 per cent was significantly lower than the RBI's estimate of 16.2 percent. Are there any more surprises in store?
A cyclist pedals through a deserted street past police barricades during a weekend lockdown to curb the spread of coronavirus. Total loss arising from the limited lockdowns is estimated at Rs 1.5 lakh crore. (Representative image)
MUMBAI: With India topping the global infection list for the third consecutive day and more states imposing restrictions, SBI Research on Friday cut its growth forecast for the current financial year to 10.4 per cent from 11 per cent earlier.
India reported over 3.34 lakh fresh Covid-19 cases in the past 24 hours.
The report penned by the bank s chief economic advisor Soumya Kanti Ghosh also suggested that faster vaccination is cheaper on the economy than complete lockdowns, pointing out that the total cost of vaccination is much lower at 0.1 percent of GDP while the lockdowns has already cost 0.7 per cent of GDP.
SBI forecasts 0.3% GDP growth in Oct-Dec, revises FY21 contraction to 7%
SBI also retained its forecast for 11 per cent growth in India s GDP in financial year 2021-22.
BusinessToday.In | February 10, 2021 | Updated 16:18 IST
SBI expects GDP decline for the full year to be around 7.0 per cent as compared to its earlier prediction of (-)7.4 per cent.
The State Bank of India on Wednesday revised its forecast for contraction in India s GDP in financial year 2020-21 to 7 per cent from 7.4 per cent earlier, and projected GDP to grow by 0.3 per cent in October-December quarter.
It also sees India s GDP growing by about 2.5 per cent in January-March quarter.