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Estimated GDP Growth During FY18 Below 6.5%: SBI Report
September 05, 2017
Even as India’s economic growth dropped below 6% during the current fiscal year’s Q1, the future doesn’t look quite promising either as a recent report by the State Bank of India predicts a below-6.5 per cent growth ahead.
SBI’s Research report says that the manufacturing sector is likely to grow slowly due to destocking. This has to do with the GDP estimate of Q1 that suggests that the impact of demonetization has not fully settled down yet.
The report also said the fact that agriculture sector is showing signs of “glut”. Since it accounts for 17% of the GDP, the purchase demand in rural areas is expected to take a hit.
