Based on better than expected economic recovery, the State Bank Of India (SBI), in its latest research update Ecowrap, stated that India's FY21 Gross Domestic Product (GDP) is estimated at -7.4% as compared to earlier estimate at -10.9%. The estimates are based on a Nowcasting Model with 41 high frequency indicators.Ind The research update further stated that GDP is estimated to grow by around 11% due to base effect primarily.
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