SBI revises up FY23 economic growth forecast to 7.5%

SBI Research has estimated the growth of the Indian economy at 7.5% in 2022-23, an upward revision of 20 basis points from its earlier estimate.

According to the official data, the economy will grow by 8.7% in FY22, net adding ₹11.8 lakh crore in the year to ₹147 lakh crore. Nominal GDP will inflate by ₹38.6 lakh crore to ₹237 lakh crore, or 19.5% annualised.

In FY23 also, as inflation remains elevated in the first half, nominal GDP will grow 16.1% to ₹275 lakh crore.