India's GDP likely to grow at 5.8% in Oct-Dec: SBI report
The Hindu
The National Statistical Office will declare the GDP estimates for Q3 FY 2021- 22 on February 28
The country's gross domestic product (GDP) is likely to grow at 5.8% in the third quarter of fiscal 2022, according to an SBI's research report- Ecowrap.
The country's economy expanded by 8.4% in the second quarter of 2021-22, to cross pre-pandemic levels. However, the GDP growth in July-September period was slower than the 20.1% expansion in the previous quarter.
The National Statistical Office (NSO) will declare the GDP estimates for Q3 FY 2021- 22 on February 28.
"As per SBI Nowcasting Model, the forecasted GDP growth for Q3 FY22 would be 5.8%, with a downward bias. The full year (FY22) GDP growth is now revised downwards to 8.8% from our earlier estimate of 9.3%," the report said on Friday.
The Nowcasting Model is based on 41 high frequency indicators associated with industry activity, service activity, and global economy.
The real GDP will be around ₹2.35 lakh crore more / 1.6% higher than the FY20 real GDP of ₹145.69 lakh crore, the report said.
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