SBI revises FY21 GDP growth estimate to -7.4% from -10.9% SBI Research says there's been a positive momentum of various economic indicators. But despite improvement in growth outlook, decline in government expenditure has been quite significant to Rs 3.62 lakh crore in Q2 from Rs 4.86 lakh crore in Q1 BusinessToday.In | December 16, 2020 | Updated 12:28 IST It will take almost 7-quarters from Q4 FY21 to reach pre-pandemic level SBI Research, in its latest Ecowrap report, says GDP recovery has been better than expected and based on it, the FY21 GDP estimate has been revised to -7.4% from earlier -10.9%. SBI's revised GDP estimates are based on 'Nowcasting Model' with 41 high-frequency indicators associated with industry activity, service activity, and global economy showing recovery.