SBI lowers GDP estimates to 4.6 per cent in FY 20 from 5 per cent

The SBI on Tuesday lowered the economic growth forecast to 4.6 per cent from the earlier 5 per cent. "The FY20 GDP estimate as released by the CSO pegs the GDP growth rate at 5 per cent (we had revised our GDP projection to 5 per cent in November 19), a 11-year-low. Nominal GDP growth at 7.5 per cent is a 42-year-low. For FY20, the budgeted nominal GDP growth rate was 12 per cent which has now been revised downwards to 7.5 per cent. Based on this GDP revision, the impact on fiscal deficit is around 12 basis points for FY20," SBI Ecowrap said.

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