SBI Research upgrades India’s GDP growth estimate for financial year 2022
SBI Research has upgraded India’s GDP growth projection for financial year 2022 to the range of 9.3%-9.6% from its earlier estimates of 8.5%-9%. The revised GDP estimate of SBI Research is in-line with RBI’s projection of 9.5% GDP growth for the current fiscal year.
The projection comes as the country recorded only 11% increase in Covid-19 cases during the July-September quarter of 2021, second-lowest among the top 15 most affected countries
Mentioning reasons behind its revised estimates, SBI Research said that India remained unscathed in Quarter 3 from the global situation, which is marred by supply disruptions, stubborn inflation and surges of infections during Q3 2021.