ECOWRAP REPORT - ECONOMY
News: Domestic
GDP growth is on firm footing: SBI economists
What is in the news?
●
Recently, State Bank of
India has released its flagship ECOWRAP report.
Key takeaways from the news:
●
Domestic GDP growth is
now on a firm footing with urban demand
showing good traction, while lagging
rural demand is a cause for concern.
●
It has also revised GDP growth marginally upwards
from 6.4% to 6.5% for the current
financial year.
●
The inflation for the current financial year had been pegged at 5.1% by the SBI bank,
perceived to be above the tolerance band of RBI at 4%.
●
The inflation trajectory was now conditional on the spatial variation of the monsoon and possible development of the
El Nino effect.