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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 ea...

Based on better than expected economic recovery, the State Bank Of India (SBI), in its latest research update Ecowrap, stated that India's FY21 Gross Domestic Product (GDP) is estimated at -7.4% as compared to earlier estimate at -10.9%. The estimates are based on a Nowcasting Model with 41 high frequency indicators. Ind The research update further stated that GDP is estimated to grow by around 11% due to base effect primarily. Powered by Capital Market - Live News (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.) Dear Reader, Busines...

December 16, 2020 × Ecowrap report sees improvement in business activities; projects FY22 GDP growth at 11% primarily due to base effect State Bank of India’s economic research department has lowered India’s FY21 GDP contraction forecast to 7.4 per cent against earlier forecast of 10.9 per cent contraction, based on better than expected recovery. The Department believes that it will take almost seven quarters from Q4 (January-March) FY21 to reach the pre-pandemic level in nominal terms and there will be a permanent output loss of around 9 per cent of GDP. The total output loss (in nomina...

Updated: Bank’s research team had earlier projected economy to shrink 10.9% this fiscal Share Article AAA SBI’s research team also opined that it would take seven quarters from the fourth quarter of FY21 for GDP to reach the pre-pandemic level in nominal terms.   Bank’s research team had earlier projected economy to shrink 10.9% this fiscal India’s GDP is expected to shrink 7.4% in FY21 on a better-than-projected recovery, SBI said in a research report, upgrading its earlier forecast of a 10.9% contraction. SBI’s research team also opined that it would take seven quarters from th...

FY21 GDP to contract at 7.4 per cent on better recovery: SBI report It 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. Share Via Email   |  A+A A- By PTI 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. The report also believes that it would take seven quarters from the fourth quarter of FY21 for GDP to reach the pre-pandem...