SBI Economists Sharply Revises GDP Growth Estimate in FY22 to 7.9 %

Current GK ( Master) Growth and development

SBI economists, in its research report – Ecowrap, has sharply cut the GDP growth estimates for Indian economy to 7.9 percent in FY22, compared to earlier projection of 10.4 percent.
This is the lowest growth rate estimate for India among all analysts.
The key factor for revision in the growth estimate is the impact of the second wave of COVID-19 infections.
The SBI economists projects a “W-shaped” recovery in FY22, with two troughs, instead of the earlier anticipated “V-shaped” recovery.