Menu
BW CFO World
Community for Finance Professionals, Consultants and allied businesses
  • Home
  • News
  • Videos
  • Articles
    • Credit & Capital
    • Economic Trends
    • Financial Compliance
    • Financial Leadership
    • Financial Management
    • Financial Reporting
    • Financial Strategy
    • Risk Management
    • Taxation
  • Featured
  • Nominate for Awards
Close Menu
economy 2
January 10, 2022

GDP Likely To Grow By 9.2% In FY22: SBI

Urvi Srivastava Economic Trends, Financial Reporting Delta, GDP, Globe, Omicron, SBI

Cases have been rising significantly in India as well as across the globe. However, studies so far reveal that the current Omicron variant is less severe than the Delta variant, the report mentioned.

Amid the economic recovery, the State Bank of India (SBI) on Saturday said that India is expected to witness GDP growth at 9.2 percent and the GVA growth estimate is 8.6 percent. Nominal GDP growth is whopping at 17.6 percent.  

According to the SBI report, this is the second-highest nominal growth achieved with 19.9 percent nominal growth registered in 2010-11 and 17.1 percent growth in 2006-07. 

The report also indicated that the overall GDP growth is 1 percent above the pre-pandemic level (FY20). Almost all sectors except ‘trade, hotels, transport, communication and services related to broad- casting’ (which are still 8 percent below the pre-pandemic level) reached the pre-pandemic level.  

On the expenditure side, private final consumption expenditure is still 3 percent below the pre-pandemic level. The additional spending announced by the government in early Dec’21 fiscal deficit of the centre still comes at Rs 15.88 lakh crore or 6.8 percent of the GDP. For FY23, the fiscal consolidation should remain limited to 30-40 bps from the current fiscal, it said. 

Cases have been rising significantly in India as well as across the globe. However, studies so far reveal that the current Omicron variant is less severe than the Delta variant. Data also substantiate this fact, the report mentioned further. 

SBI business activity index is at its all-time high of 114.6 for the week ended 3 Jan’21, indicating that economic activity is not getting affected by the sudden bout of infections. The index has been above the pre-Covid level since mid-Jul ’21 barring some minor exceptions.

“Going forward, we believe even if the rising infections could impact mobility, yet economic activity is not expected to get affected much,” the report mentioned. 

Urvi Shrivastav

→ Urvi Shrivastav

India Cuts Growth Estimates For 2021-22 Amid Surging COVID Cases Reliance Takes 26% Stake In Delivery Firm Dunzo For $200 Mn

Related Posts

start-up

Credit & Capital, Economic Trends

Cash-strapped Pak Secures Deal With IMF To Restore Stalled USD 6 Bn Aid

indian rupee

Credit & Capital, Economic Trends

Investors richer by over Rs 5.77 lakh cr as markets rally

20211208_135038

Credit & Capital, Economic Trends

Mutual Funds Can Resume Investing In International Stocks: Sebi

Movements

  • adobe danDan Durn Appointed As Adobe’s New Chief Financial Officer
  • Vineet Mahajan_Vineet Mahajan Appointed As New CFO Of Avanse Financial Services On Sept 27
  • bharat pet director financeVetsa Ramakrishna Gupta To Lead Bharat Petroleum As Director Finance
  • tender cuts cfoTenderCuts Names Satya Rakesh as New CFO
  • dailmer CFOManish Thakore Helms Daimler India Commercial Vehicles as CFO

Selected Stories

  • start-upCash-strapped Pak Secures Deal With IMF To Restore Stalled USD 6 Bn Aid

    Read more

  • sahil-vaidya-imageOMTV Appoints Sahil Kiran Vaidya As Head Of Business And Strategy

    Read more

  • indian rupeeInvestors richer by over Rs 5.77 lakh cr as markets rally

    Read more

  • 20211208_135038Mutual Funds Can Resume Investing In International Stocks: Sebi

    Read more

  • green energyIndia Needs $223 Bn To Meet 2030 Renewable Capacity Goals: Report

    Read more

Categories

  • Accounting
  • CFO Stance
  • Credit & Capital
  • Economic Trends
  • Featured
  • Financial Compliance
  • Financial Leadership
  • Financial Management
  • Financial Reporting
  • Financial Strategy
  • Financial Technologies
  • Global News
  • Interview
  • Movements
  • Risk Management
  • Taxation

Recent Comments

    Back To Top
    BW CFO World
    • Home
    • News
    • Videos
    • Articles
      • Credit & Capital
      • Economic Trends
      • Financial Compliance
      • Financial Leadership
      • Financial Management
      • Financial Reporting
      • Financial Strategy
      • Risk Management
      • Taxation
    • Featured
    • Nominate for Awards
    © Copyright BW BUSINESSWORLD 2018. All Rights Reserved.