SBI Research estimates, the country’s GDP growth rate will be 9.5 percent in the current financial year

New Delhi,1/12: There is good news on the economy front for India. In the current financial year 2021-22, the country’s GDP growth rate will be 9.5 percent. This has been estimated in the research report ‘Ecowrap’ of the country’s largest bank State Bank of India (SBI).


The GDP growth figures were released by the government in the second quarter of the current financial year 2021-22 on Tuesday. The country’s GDP stood at 8.4 percent in the second quarter of the current financial year. GDP in the first quarter was 20.1 percent. The National Statistical Office (NSO) has released these figures.


In the monetary policy review for October-2021, the Reserve Bank of India had retained its forecast of real GDP growth at 9.5 per cent for the fiscal year 2021-22. In this, 7.9 percent growth was said in the second quarter, 6.8 percent in the third quarter and 6.1 percent in the fourth quarter.


Moody’s forecasts GDP growth at 9.3 percent

Rating agency Moody’s Investor Service has predicted a strong recovery in economic growth in India in its report. The rating agency has expected the GDP growth forecast for the financial year 2021-2022 (FY22) to be 9.3 percent, while the country’s GDP growth in the financial year 2022-2023 (FY23) has been said to be 7.9 percent. According to the report, the rapid pace of corona vaccination in the country will prove helpful for India’s return to economic activities.’

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