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SBI upgrades India growth forecast to (-) 10.7% for Q2
Nov-20-2020

State Bank of India (SBI) in its latest research report from SBI Ecowrap has upgraded India's second-quarter (Q2) gross domestic product (GDP) to -10.7 per cent from -12.5 per cent with a positive bias.

The report said that there was no doubt that the country's economy had suffered and the scarring still remained. The Micro, Small and Medium Enterprises (MSME) sector borne the brunt of the COVID-19 pandemic and the Export Promotion Capital Goods (ECLGS) scheme was a shot in the arm.

According to the report, corporate results remained good and growth in corporate GVA of 3,640 listed entities was at 22.06 per cent year on year (y-o-y) for Q2 FY21 and size-wise analysis based on turnover showed resilience in small and medium enterprises.

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