Recently, it has been confirmed that after the State Bank of India (SBI) due to economic slowdown, now other banks have estimated the GDP estimate to be below five percent in the second quarter. The same Kotak Mahindra, HDFC Bank, and CRISIL said that due to lack of investment and demand, many sectors have suffered. In such a situation, the growth rate has reduced considerably during the second quarter. According to the same information, Kotak Mahindra Bank has predicted a growth rate of 4.7 percent in the second quarter. At the same time, this estimate is five percent for this financial year. Crisil said that the growth rate in the current second quarter has been 5 percent.

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According to the same sources, the government will release the official data of GDP on November 29, while the entire year data has been made available by going in January. HDFC Bank Chief Economist Abheek Barua has said that the growth rate is expected to be between 4.8 percent and 5.8 percent this quarter. Care has said that the growth rate in this quarter has been 4.5 percent and for one year it has been reduced to 6.2 percent.

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SBI had expressed this estimate: SBI has drastically reduced the growth rate estimate for the current financial year in a research report. The report said that this year the growth rate could be 5 percent, which was earlier estimated at 6.1 percent. In the report released as Ecorp, SBI has said that the growth rate in the second quarter is 4.2 percent.

According to EcoRap, the growth rate has slowed down due to a sharp decline in vehicle sales, a fall in air traffic, a steady growth in the infrastructure sector and a lack of investment in the infrastructure sector. However, it will pick up again in the next financial year 2020-21 and has reached 6.2 percent.

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DBS second-quarter figures important for India: According to the information received, DBS Bank of Singapore has said that the growth rate figures for the second quarter of the current financial year will be very important for India. The government will release GDP growth figures for the July-September quarter on November 29. DBS said that in the first quarter ended in June, figures have reached 5 percent at a six-year low.