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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