SBI pegs India’s Q3FY25 GDP growth at 6.2%-6.3%
The Hindu
SBI predicts India's Q3 FY25 GDP growth at 6.2%-6.3%, citing positive indicators and corporate performance improvements.
The Economic department of State Bank of India (SBI) has pegged India’s Gross Domestic Product (GDP) growth for Q3 FY25 at 6.2% to 6.3%.
“Impinging upon our in-house developed ‘Nowcasting Model’ that leverages 36 high frequency indicators, we estimate the GDP growth for Q3 FY25 should come around 6.2%-6.3% (data due on 28th February),” said SBI in a Special Research Report on Wednesday.
The RBI had in December projected the Q3 FY25 GDP growth rate at 6.8%.
“Presuming no major revisions announced in the erstwhile Q1 and Q2 figures by National Statistical Office (NSO), we estimate the FY25 full year GDP at 6.3%,” it said.
At the last MPC meeting earlier this month the RBI had projected the FY25 GDP growth at 6.4%.
Stating that the percentage of indicators showing acceleration has increased to 74% in Q3FY25 vs 71% in Q2FY25, it said a healthy rural economy is further reinforcing stability and sustains momentum in other sectors even as rural agriculture wage growth is consistent and domestic tractor sales and rabi crop sown have picked up momentum.
It said the slowdown in current household inflation expectations encourages higher discretionary spending and drives demand-led growth.
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