GDP's downfall may occur
Corona Pandemic has made every section to suffer, which has directly affected the total earnings and GDP scale of the National Economy. To evaluate the same, SBI has conducted an analysis and presented a report on GDP.
State Bank of India, the largest govt. Regulated banking body has conducted a report in which they have mentioned that in the going Financial year in the first quarter of March to June, Indian GDP may go through a downfall of 16.5 %.
This has invited a lot of reactions especially from economists and finance specialists.
SBI had earlier already expressed the possibility of GDP to go down as much as 20% in first 3 months.
However, after critical analysis, this downfall is now being calculated a total of 16.5%.
All this information is published in the report of State Bank of India known as ‘EcoWrap’.
However, there is no effect on Margin of the Companies.
The private sector companies have encountered 25% of downfall in the earning and profit .