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SBI has estimated the growth rate of gross domestic product (GDP) during its current financial year (2024–25) in its research. According to the report, taking advantage of 36 high frequency indicators, the estimated GDP growth for the third quarter of the current financial year should be between 6.2 percent to 6.3 percent.
Kolkata . State Bank of India (SBI) has estimated the growth rate of GDP (GDP) to be 6.3 percent during the current financial year (2024-25) in its research. According to the report, taking advantage of 36 high frequency indicators, the estimated GDP growth for the third quarter of the current financial year should be between 6.2 percent to 6.3 percent. According to the National Statistics Office (NSO), 'Real' and 'Nominal' GDP growth for 2024–25 are estimated to be 6.4 percent and 9.7 percent respectively.
The report said, healthy rural economy is strengthening stability and maintaining momentum in other areas. The recession in existing domestic inflation encourages high discretionary expenditure and promotes demand-based growth. It said, there is a improvement in capital expenditure in the third quarter of the current financial year. Due to geopolitical developments and supply chain disruption, the recession has affected not only India but also other countries in the third quarter of the calendar 2024.
According to SBI report, despite this, India remains one of the fastest growing economies. The recent global growth forecast of the International Monetary Fund (IMF) has estimated that the growth rate of India will be 6.5 percent in both the current financial year 2024-25 and the upcoming financial year 2025-26.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from the feed of PTI-language.
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