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The SBI research report Ecowrap has showed that the country's gross domestic product (GDP) is expected to grow at around 18.5 percent with an upward bias in the first quarter of the current financial year (Q1FY22). The report also expects gross value added (GVA) to be at 15 percent in Q1FY22.

According to the report, the corporate GVA of 4,069 companies registered a growth of 28.4 percent in Q1 FY22. However, this is lower than growth in Q4 FY21, thereby corroborating the lower GDP estimate than what was thought earlier.

The report further said it is globally noted that lower mobility leads to lower GDP and higher mobility to higher GDP, but the response is asymmetric. It said that with the decline in mobility, the economic activity declines and thus GDP growth, however, with an increase in mobility the GDP growth does not increase in the same proportion.