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Indian economy likely to contract by 16.5% in Q1FY21: SBI report

Based on the leading indicators YoY performance, we expect the gross value added (GVA) de-growth to be between -14.5 per cent and -16.5 per cent in Q1FY21, says Soumya Kanti Ghosh of SBI

Topics
India economy | GDP

Nikita Vashisht  |  New Delhi 



Based on the composite leading indicator (CLI), which is a basket of 41 leading economic indicators, Ghosh deduces that the economic activity is showing early signs of turnaround
Based on the composite leading indicator (CLI), which is a basket of 41 leading economic indicators, Ghosh deduces that the economic activity is showing early signs of turnaround

The Indian economy may report a contraction of16.5 per cent in April-June quarter of FY21, as against previously expected contraction of 20 per cent, as degrowth in corporate GVA, courtesy better-than-expected results of some financial and non-financial companies, has been significantly better than revenue degrowth in Q1FY21, said economists at India's largest public sector bank State Bank of India (SBI).

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First Published: Mon, August 17 2020. 15:12 IST

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