SBI forecasts 1.3% development in March quarter

Mumbai, May 25

The country’s GDP is likely to grow at 1.3% in the fourth quarter of 2020-21 and may see a contraction of around 7.3% for the full financial year, according to an SBI research report ‘Ecowrap’.

The e-National Statistical Office (NSO) will release the GDP estimates for the March 2021 quarter and provisional annual estimates for the year 2020-21 on May 31.

“Based on our ‘nowcasting model’, the forecast GDP growth for Q4 would be around 1.3% (with downward bias) as against NSO (National Statistical Office) projection of a negative (-) 1%,” the research report said. — PTI

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