Home / Economy / News / SBI cuts FY22 GDP growth estimate to 7.9%; recovery to be 'W-shaped'

SBI cuts FY22 GDP growth estimate to 7.9%; recovery to be 'W-shaped'

The economists at the state-run lender seemed to attribute the impact of the second wave of Covid infections as a key factor for the revision in the growth estimate, and pitched for faster vaccination

gdp, growth, forecast, profit, economy, manufacturing

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The Reserve Bank of India has maintained its growth estimate at 10.5 per cent, despite the emergence of the second wave. It may have a relook at the number at this week’s policy review

Press Trust of India Mumbai

2 min read Last Updated : Jun 02 2021 | 12:26 AM IST

State Bank of India (SBI) economists on Tuesday sharply slashed their FY22 GDP growth estimates to 7.9 per cent — the lowest among all analysts — from the earlier projection of 10.4 per cent.

The economists at the state-run lender seemed to attribute the impact of the second wave of Covid-19 infections as a key factor for the revision in the growth estimate, and pitched for faster vaccination.

“… our analysis shows a disproportionately larger impact on the economy this time and given that rural is not as resilient as urban, the pick-up in pent-up demand is unlikely to make a large

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Topics : Coronavirus Lockdown GDP growth sbi Indian Economy

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