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SBI Economists Forecast GDP Growth to Slip to 7.1% for June Quarter

Economists at the State Bank of India (SBI) have projected a decline in India’s economic growth for the June quarter, estimating the real GDP growth to come in at 7.1%. This forecast aligns with other recent predictions indicating a slowdown in the country’s economic expansion.

According to SBI’s economists, the growth in gross value added (GVA) is expected to drop below 7%, with estimates ranging between 6.7% and 6.8% for the April-June period of this fiscal year, compared to the same period last year. This decline reflects a broader trend of moderated economic performance.

The SBI economists based their forecast on their ‘Nowcasting Model,’ which predicts a GDP growth rate of 7.0-7.1% for the first quarter of FY25. The GVA growth is anticipated to be in the range of 6.7-6.8%, with a downward bias.

The forecasted slowdown in GDP growth highlights the challenges facing the Indian economy, including potential impacts from global economic conditions and domestic factors. The anticipated lower growth rates may influence economic policy and business sentiment in the coming months.

As the economic landscape evolves, stakeholders will be closely monitoring further updates and data releases to assess the trajectory of India’s economic performance and adjust their strategies accordingly.

SBI Economists Forecast GDP Growth to Slip to 7.1% for June Quarter

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