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India's GDP Estimated To Contract By 7.4% In FY21

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.
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India's GDP contraction expected to narrow down: SBI Ecowrap

India's GDP contraction expected to narrow down: SBI Ecowrap
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FY21 GDP to contract at 7.4% on better recovery: SBI report

FY21 GDP to contract at 7.4% on better recovery: SBI report
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SBI lowers FY21 GDP contraction forecast to 7.4 per cent - The Hindu BusinessLine

December 16, 2020
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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 nominal terms) was ₹13-lakh crore for Q1 (April-June) and Q2 (July-September) put together, it added. ....

Soumya Kanti Ghosh , State Bank , Nowcasting Model , Group Chief Economic Adviser , Baseline Fiscal Deficit , Extra Budgetary Resources , சௌமிய காந்தி கோஷ் , நிலை வங்கி , அடிப்படை நிதி பற்றாக்குறை ,

SBI sees recovery narrowing FY21 GDP contraction to 7.4%

Updated:
Bank’s research team had earlier projected economy to shrink 10.9% this fiscal
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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 the fourth quarter of FY21 for GDP to reach the pre-pandemic level in nominal terms. ....

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