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'GDP contraction expected to narrow down'

'GDP contraction expected to narrow down'
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FY21 GDP to contract at 7.4 per cent on better recovery: SBI report

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.
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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-pandemic level in nominal terms. ....

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