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SBI: India's Q1 GDP growth at 8.3%, FY24 forecast 6.7%
The Business Guardian
|August 24, 2023
Soumya Kanti Ghosh, group chief economist of State Bank of India, believes that the Indian economy expanded by 8.3 percent between April and June. She also predicts that growth for the whole year ending in March 2024 will be higher than the 6.5 percent growth rate anticipated by the government and Reserve Bank of India (RBI).
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”At SBI, we created a model using 30 high-frequency indicators called an Artificial Neural Network (ANN)...” We predict that the quarterly GDP growth for the Q1FY24 (April–June 2023) would be at 8.3 percent based on the ANN model, Ghosh stated in a report on August 22.
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