State Bank of India (SBI) Research Report, Ecowrap, has revised downwards the gross domestic product (GDP) growth rate of India for FY22 (2021-22) to 8.8 percent. Earlier this was estimated at 9.3 per cent. The report projects the GDP to grow at 5.8 per cent in the third quarter (Q3) of FY2021-2022 (October-December).
The country’s economy expanded by 8.4 per cent in the second quarter of 2021-22, to cross pre-pandemic levels. However, the GDP growth in the July-September period was slower than the 20.1 per cent expansion in the previous quarter.