The State Bank Of India (SBI), in its current edition of research update Ecowrap noted that given the current circumstances of partial/local/weekend lockdowns in almost all states, its growth forecast for Indian economy is now revised downwards. The bank now revised its FY22 projection at 10.4% real GDP and 14.3% nominal GDP. Earlier, the bank has estimated a growth of 11% in FY22. Total loss estimated at Rs 1.5 lakh crores, of which Maharashtra, Madhya Pradesh and Rajasthan account for 80%. Maharashtra alone at 54%. SBI business activity index shows decline in activity in Apr'21 with the latest reading for the week ended 19 Apr'21 of 86.3. This is the lowest in 5 months.
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