SBI Report: State Bank of India, the country's largest state-run bank, has come out with its research report, in which the growth estimate of the Indian economy in the financial year 2022-23 has increased by 0.2 percent and it has been estimated to be 7.5 percent. State Bank of India's (SBI) research team 'SBI Research' has said in its report that this time 0.20 percent higher economic growth rate is being estimated than the previous estimate.
The growth rate of the economy was 8.7 percent in the financial year 2021-22
According to official data, the growth rate of the economy was 8.7 percent in the financial year 2021-22. During this, the Gross Domestic Product (GDP) increased by Rs 11.8 lakh crore to Rs 147 lakh crore. However, this is only 1.5 percent more than the financial year 2019-20 before the pandemic.
Statement of SBI Chief Economist Soumyakanti Ghosh
SBI Chief Economist Soumya Kanti Ghosh said in a note, "Given the high inflation and the likely rate hike thereafter, we are of the view that the real GDP growth in FY 2022-23 will be Rs 11.1 lakh crore. This represents a real GDP growth of 7.5 percent, which is 0.20 percent higher than our previous estimate."
The size of GDP will increase at current prices
As far as the size of GDP at current prices is concerned, it has increased by Rs 38.6 lakh crore to Rs 237 lakh crore in 2021-22, showing a growth of 19.5 percent year-on-year. Ghosh said GDP at current prices will grow 16.1 percent this year to Rs 275 lakh crore in the first half of FY 2022-23 amid fears that inflation will remain elevated.
stock market gains
According to the report, about 2,000 companies listed on the stock exchange registered a 29 percent increase in revenue in the fiscal ended fiscal year, while their profit increased by 52 percent compared to a year ago.
RBI may increase the repo rate
On the liquidity front, this report says that the Reserve Bank of India (RBI) will support economic growth by gradually increasing the repo rate. RBI may increase the repo rate by 0.50 percent during the monetary policy reviews to be held in June and August. At the same time, an increase of 0.25 percent in the Cash Reserve Ratio (CRR) is expected in June.
RBI may also increase CRR
It has been estimated in the report that the RBI may increase the repo rate, which was at four percent during the Kovid period, by a total of 1.25-1.50 percent. RBI has increased the repo rate by 0.40 percent in May. According to SBI Research, the central bank can again increase the CRR by up to 0.50 percent. It had increased the CRR by 0.50 percent last month as well.
Inflation expected to be 6.5-6.7 percent
The report says that due to crude oil prices remaining above $ 120 per barrel, the inflation rate can be 6.5-6.7 percent in the current financial year. This report also takes into account the increased revenue and profit of companies and the sufficient cash in the system along with increasing bank loans.
Weather Report: Delhi-NCR may get relief from heat tomorrow, know how the weather will be in other states
After the rains in the past, the heat wave continues again in the entire Uttar Pradesh including the capital Delhi-NCR. People are troubled by the early morning sun and it. Meanwhile, the Indian
Supreme Court: Advised to implement digital DIN system in states, Supreme Court directed
The Supreme Court has directed the Center and the GST Council to advise the states to implement the electronic (digital) system of Document Identification Number (DIN) in indirect tax administration.
DC vs RR: Sanju Samson was out controversially, then BCCI imposed a heavy fine; Know what mistake the RR captain made
The match against Delhi Capitals on Tuesday did not go well for Rajasthan Royals captain Sanju Samson. Sanju Samson was out controversially in the 56th match of IPL
Russia starts nuclear drill: Ballistic missile launch in the presence of Putin, all three forces on alert
On Wednesday, Russia started a nuclear drill amid the ongoing war with Ukraine. During this, ballistic missiles were also launched. Its footage was released by government TV. According to reports,
Weather Update Today: Alert of the Meteorological Department, there will be heavy rain in these states for 4 days, know- IMD's update regarding UP, Bihar
Heavy Rainfall Alert has worsened the situation in many states of the country. In some states, the flood-like situation has arisen due to rain. In many states including Madhya Pradesh, Maharashtra,
External Affairs Minister Jaishankar's target on western countries: Said on India-Russia relation - Our relationship is from when western countries did not give arms to India
Indian External Affairs Minister S Jaishankar is on a tour of Australia. During this, he targeted western countries for supplying arms to Pakistan.
China-Pakistan bent on destroying the world, an even more deadly virus than corona, together
The friendship between Pakistan and China is not hidden from countries around the world. China has helped Pakistan financially many times. At the same time, Pakistan also does not hesitate to support
NIPAH Virus: How is the situation of Nipah in Kerala, which age group is more at risk? Know all the important things here
The southern state of Kerala is in the grip of a serious and deadly Nipah virus these days. So far two people have died due to the infection, the infection was confirmed in six people. Kozhikode
UN can mediate: Peace talks between Russia and Ukraine can be held in February
Ukraine's Foreign Minister Dmytro Kuleba said the government could hold a peace summit at the United Nations by the end of February. He said that UN Secretary-General Antonio Guterres can mediate in
Shraddha murder case... Aftab withdraws his bail plea: Lawyer said - a decision taken due to misunderstanding
Shraddha Walker murder accused Aftab Poonawal has withdrawn his bail plea. This application has been withdrawn after a misunderstanding between Aftab and his lawyer. On Thursday, the lawyer told the