FY18 to clock 6.5% growth at most, says SBI research

The research team of State Bank of India (SBI) has pegged economic growth at 6.5 per cent for 2017-18 with a downward bias. After growth fell to a three-year low of 5.7 per cent in the first quarter of 2017-18, the second quarter would also not give a good news for the Modi government in terms of economic growth, the research team said. "Q2 growth numbers are likely to be muted, almost like the Q1 numbers (below 6 per cent), and the reasons are many," SBI Group Chief Economist Soumya Kanti Ghosh said.