Business

SBI pegs FY20 GDP growth at 4.6%

Warns of sub 6% growth for 2 successive years

State Bank of India (SBI) on Tuesday lowered its economic growth projection for the current financial year to 4.6%, from the 5% projected in November.

The Central Statistics Office on Tuesday pegged the country’s GDP growth for 2019-20 at 5%, an 11-year low. GDP growth in the previous financial year was 6.8%. Reserve Bank of India had cut down its growth projection for FY20 to 5% in the December monetary policy review.The SBI report, authored by Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI, said,

“We now believe that the RBI projection of a 5.9-6.3% GDP for FY21 could be on the higher side. We could be now staring at a sub 6% growth for 2 successive years,” the report added.

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Printable version | Feb 25, 2020 11:18:23 AM | https://www.thehindu.com/business/sbi-pegs-fy20-gdp-growth-at-46/article30506847.ece

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