SBI Calls 2.6% GDP Growth Claim Misleading, Cites Inconsistent Data Use

The State Bank of India has pushed back against claims that nominal GDP growth stands at just 2.6%, calling the assertion intellectually dishonest. The bank argued that the low figure resulted from inconsistent data comparisons rather than an accurate economic reading. SBI emphasized that India's official real GDP growth for Q1 FY27 remains strong at 7.8%. The bank also noted that quarterly GDP figures are routinely subject to adjustments and will continue to be revised until the data is fully finalized.