SBI revises India’s GDP for FY 2022- 23

Category : Business and economics Published on: September 03 2022

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State Bank of India (SBI) chief economist has revised down India's full-year GDP growth forecast to 6.8 for the financial year FY23.
Earlier, the growth forecast was 7.5%.
SBI's lowering of GDP growth forecast comes after the National Statistical Office (NSO) on Wednesday released the data for the April-June quarter (Q1) of 2022-23, where the economy showed a growth of 13.5% -- lower from 20.1% in Q1 of FY22.
Earlier this month, the Reserve Bank of India had projected the estimated first quarter GDP growth to be 16.2%.