National Affairs

GDP to Contract 10.9% In Current Fiscal Year : Reports SBI,On Thursday

India’s real GDP is now estimated to contract 10.9% in current fiscal year 2020-21. State Bank of India (SBI) said in a report on Thursday. The annual GDP contraction was estimated at 6.8 per cent previously, the country’s largest lender said in its Ecowrap report. The real GDP may decline in the range of 12-15 per cent in the second quarter (July-September), and 5-10 per cent in the following quarter (October-December), according to the report.

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