SBI pares 2021-22 GDP forecast to 7.9%
The Hindu
“Corporates, in the listed space, reported better growth numbers across parameters in Q4FY21.”
NEW DELHI State Bank of India has downgraded its growth projections for this year from 10.4% to 7.9%, and said the country’s economic recovery will now be 'W-shaped' instead of the ‘V-shaped recovery’ anticipated earlier. While the bank said there could be an upward bias to its projections, linked to the ‘fervent hope of 1 crore vaccinations per day beginning mid-July as per Government projections’, it expects a ‘disproportionately larger impact’ on the economy from the second COVID-19 wave, especially since rural India is not as resilient as urban India.
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