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SBI Research has scaled up its projections for the economy, projecting gross domestic product (GDP) to contract 7.4 per cent during the current financial year compared to its earlier forecast of a 10.9 per cent fall. The author of the report, Soumya Kanti Ghosh, believes it would take seven quarters from the fourth quarter of FY21 for GDP to reach the pre-pandemic level in nominal terms. He 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. Based on this model, the GDP...

URL copied FY21 GDP to contract at 7.4% on better recovery: SBI report 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.   The report also believes that it would take seven quarters from the fourth quarter of FY21 for GDP to reach the pre-pandemic level in nominal terms. "We now expect GDP decline for the full year (FY21) to be in single digits at 7.4 per cent (compared to our earlier prediction of (–) 10.9 per cent), aligned with RBI and mark...

SBI revises FY21 GDP growth estimate to -7.4% GDP recovery has been better than expected and hence the FY21 GDP estimate has been revised to -7.4 per cent from earlier -10.9 per cent. SBI Research on Wednesday said that GDP recovery has been better than expected and based on its report, the FY21 GDP estimate has been revised to -7.4 per cent from earlier -10.9 per cent. India's largest lender in its latest Ecowrap report said that it would take seven quarters from the fourth quarter of FY21 for GDP to reach the pre-pandemic level in nominal terms. "We now expect GDP decline for the full year ...

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...

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. The report also believes that it would take seven quarters from the fourth quarter of FY21 for GDP to reach the pre-pandemic level in nominal terms. "We now expect GDP decline for the full year (FY21) to be in single digits at 7.4 per cent (compared to our earlier prediction of () 10.9 per cent), aligned with RBI and markets' revised forecasts post Q2," SBI said in its research report - Ecowrap.