Categories: Economy

SBI research: GDP likely grew by 1.3% in Q4 FY21

India’s GDP is likely to have grown at 1.3% in the fourth quarter of 2020-21 and may have contracted by about 7.3% for the full financial year, according to an SBI research report ‘Ecowrap’. The National Statistical Office (NSO) will release the GDP estimates for the March 2021 quarter and provisional annual estimates for the year 2020-21 on May 31.

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State Bank of India (SBI) has developed a ‘nowcasting model’ with 41 high-frequency indicators associated with industry activity, service activity, and the global economy in collaboration with the State Bank Institute of Leadership (SBIL), Kolkata. The economics research team said that going by the estimate of 1.3% GDP growth, India would still be the fifth-fastest-growing country among 25 nations that have released their GDP numbers so far.

Important takeaways for all competitive exams:

SBI Chairperson: Dinesh Kumar Khara.
SBI Headquarters: Mumbai.
SBI Founded: 1 July 1955.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.