According to SBI report, India’s GDP growth to be 8.2-8.5 percent in FY22
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- According to the State Bank of India‘s research paper Ecowrap, India’s Gross Domestic Product (GDP) growth in FY22 is predicted to be in the range of 8.2 to 8.5 percent.
- Uncertainties abound in Q4FY22 GDP estimates, as normal quarterly data adjustments are tough to fathom, but the research produced by SBI’s Economic Research Department predicts that it will meet the 3 to 3.5 percent mark.
- On May 31, the government will disclose GDP figures for the fourth quarter of FY22. The data are tough to understand, according to SBI, and a flurry of regular quarterly revisions in FY22 on May 31st could make it a forecaster’s nightmare.
- According to the newspaper, SBI’s Group Chief Economic Adviser Soumya Kanti Ghosh believes that FY22 GDP estimates will be closer to 8.5 percent than Q4 GDP numbers.
- Given the robust growth in tax receipts, the disparity between GVA and GDP numbers in Q4 could be another major problem. This could result in a considerable increase in GDP, despite the fact that GVA may be much smaller.
- The Central Statistics Office forecast Q4 GDP at Rs. 41.04 lakh crore and FY22 real GDP growth at Rs. 147.7 lakh crore, an increase of 1.7% over pre-pandemic levels, according to the study.
- The growth rate of Q4 GDP is pegged at Rs. 40 lakh crore by the SBI Now casting model, which is lower by Rs. 1 lakh crore than the CSO early predictions.
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Published date : 30 May 2022 06:27PM