India GDP Rate: The country’s GDP is estimated to be 8.1 percent in the second quarter – SBI report

India GDP: An estimate has come in the SBI report for the country’s economic growth rate or GDP, which looks encouraging. Between the second quarter (July to September) of the current financial year 2021-22, the country’s GDP or GDP can be 8.1 percent. At the same time, an estimate of 9.3-9.6 percent has been given in the SBI report for the entire financial year. SBI’s Ecowrap report states that economic activity as measured according to SBI’s Nowcasting model is expected to generate 8.1 per cent GDP in the second quarter.

However, SBI in its report has revised the estimated rate of GDP for the full financial year and has estimated it to be in the range of 9.3-9.6 per cent, which was earlier estimated to be 8.5 per cent.

What is the Reserve Bank’s estimate
The Reserve Bank of India or RBI has given an estimate of 9.5 percent of GDP for the current financial year. It is estimated to be 7.9 percent for the second quarter, 6.8 percent for the third quarter and 6.1 percent for the fourth quarter.

In the second quarter, either according to RBI’s estimate or according to SBI’s estimate, the GDP rate will come, even then it will be less than the first quarter’s 20.1 percent. The reason for this is that economic activities went on after the lockdown opened and in the last quarter of the financial year 2020-21 it was very low, on the basis of which it saw a tremendous increase in the first quarter.

In the second quarter, there can be a great increase in the GDP of the country
It has also been said in the SBI report that if the estimated GDP rate of 8.1 percent is achieved, then it will be the best among all the considered economies of the world.

The report on agricultural laws has also been talked about
Some facts have also been given in the SBI report and some new changes have been recommended for agricultural reforms to move away from the traditional model. As the report says, instead of the MSP that farmers are demanding in the form of a price guarantee, the government can encourage them for new agricultural reforms by guaranteeing the quantity for at least five years. This is expected to benefit both the farmers and the agriculture sector of the country.

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