SBI pares 2021-22 GDP forecast to 7.9%

“Corporates, in the listed space, reported better growth numbers across parameters in Q4FY21.”

NEW DELHI State Bank of India has downgraded its growth projections for this year from 10.4% to 7.9%, and said the country’s economic recovery will now be 'W-shaped' instead of the ‘V-shaped recovery’ anticipated earlier. While the bank said there could be an upward bias to its projections, linked to the ‘fervent hope of 1 crore vaccinations per day beginning mid-July as per Government projections’, it expects a ‘disproportionately larger impact’ on the economy from the second COVID-19 wave, especially since rural India is not as resilient as urban India.