State Bank of India (SBI) economists in its research report “Ecowrap”, has revised upwards the GDP growth projection for India to the range of 9.3%-9.6% for FY22 (2021-22). Earlier this was estimated in the range of 8.5%-9%. The reason for the upward revision is a decline in the number of COVID cases.
The analysis suggested that “India remained unscathed in Q3 from the global situation, which is marred by supply disruptions, stubborn inflation and surges of infections during Q3 2021.” As per the report, India has recorded only an 11 per cent increase in Covid-19 cases during Q3 this year the second-lowest among the top 15 most affected countries.
