Withdrawal of Rs 2,000 note can boost growth by pushing consumption: Report

The real GDP growth for the first quarter of FY24 will come at 8.1% with an upward bias and the Reserve Bank of India’s 6.5% estimate can also be exceeded, economists at the country’s largest lender SBI said. “We expect Q1 FY24 GDP growth at 8.1% with an upward bias due to the impact of ₹2,000 note withdrawal event…this reinforces our projection that FY24 GDP could be higher than 6.5%, basis the RBI estimate,” a note said.

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