1-MIN READ GDP in Financial Year 2021 to Contract at 7.4% on Better Recovery: SBI Report FILE PHOTO: A worker pours molten iron from a ladle to make automobile spare parts inside an iron casting factory in Ahmedabad. REUTERS/Amit Dave The report said the revised GDP estimates are based on SBI 'Nowcasting Model' with 41 high frequency indicators associated with industry activity, service activity and global economy. FOLLOW US ON: Mumbai: India's GDP growth is expected to be at (-) 7.4 per cent in FY21 on better than projected recovery, said a SBI research report, upgrading its earlier forecast of (-) 10.9 per cent.