SBI Research Report Claims Country's GDP May Increase By 18.5 Percent

There is good news about the country's GDP. In the research report of SBI, the possibility of an increase in it has been expressed in the coming time. However, the report also clarified that the reason for the higher growth rate in the first quarter of the financial year is the lower base effect of last year. The report said that according to our Nowcasting model, the GDP growth rate in the first quarter is estimated to be 18.5 percent (with an upward slant). This estimate of SBI's research team is less than the estimate of the Reserve Bank of India (RBI).

RBI has forecast GDP growth of 21.4 percent for the April-June 2021 quarter. During the first quarter of the current financial year (2021-22), the country's GDP (Gross Domestic Product) can grow at the rate of 18.5 percent. This estimate has been expressed in SBI's Ecowrap research report. However, this growth still cannot be called better, as the GDP growth rate went below zero in the first quarter of FY 2020. The report has estimated that the Gross Value Added (GVA) will be 15 percent in the first quarter. Ecowrap said the corporate GVA of 4,069 companies grew by 28.4 percent in the first quarter. However, it is lower than the growth of Q4 2020-21.