2021 likely to see negative double digit real GDP growth

New Delhi: Even as the country’s economic growth contracted by 23.9 per cent in Q1FY21, preliminary estimates indicate the fiscal will exhibit a negative double digit growth in real GDP, says a SBI Ecowrap report.

The report, released a day after official NSO figures showed the massive fall in GDP growth, said: “After a decline of 23.9 per cent real GDP growth in Q1, now the question arises how much growth will decline in subsequent quarters.”

“It is now clearly visible that Q2 decline will also be in double digits. Our preliminary estimate indicates that all the four quarters of FY21 will exhibit negative real GDP growth and decline of full year growth will likely be in double digits (around 10.9 per cent).”

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