New Delhi, 8 January (H.S.): The country's leading public sector State Bank of India (SBI) said that the economic growth rate is expected to be 6.3 percent in the current financial year 2024-25, which is slightly lower than the government's estimate of 6.4 percent released a day earlier.

SBI said in a research report released on Wednesday that GDP will be 'downward tilted' in the current financial year 2024-25 due to several challenges affecting economic growth. SBI's GDP estimate is also lower than the National Statistical Office's (NSO) latest estimate of 6.4 percent growth seen in the current financial year, which is a four-year low.

A day before this, the National Statistical Office has projected the gross domestic product (GDP) growth rate in the financial year 2024-25 to be at a four-year low of 6.4 percent. The NSO report says that the economic growth rate in the current financial year will slow down due to poor performance of the manufacturing sector and weak investment.

Hindusthan Samachar / Jun Sarkar