SBI Report Rejects Notions of K-Shaped Recovery, Terms Indicators As Biased

New Delhi, Jan 9 (KNN) The current discussion on the potential K-shaped recovery of the national economy after the pandemic appears to be flawed and biased, according to a State Bank of India (SBI) study.

The study, conducted by the Economic Research Department of SBI, emphasises that the ongoing debate seems to favour specific interests that are disapproving of India's remarkable progress.

As per the report, relying on outdated indicators such as low two-wheeler sales or fragmented land holdings to portray a negative image of India's performance is questionable.

Patterns observed in income, savings, consumption, expenditure, and policies, as highlighted by the report, cast doubt on the credibility of these age-old representations.

"The oft-repeated conundrum debating a K-shaped recovery post-pandemic seems at best flawed, prejudiced, ill-concocted and fanning interests of select quarters to whom India’s remarkable ascendance, signalling more the renaissance of the new global south, is quite unpalatable," said the SBI report.

In the context of a K-shaped recovery, where some sectors of the economy rebound while others face challenges, the SBI report questions the efficacy of using traditional indicators that may not accurately reflect India's overall economic well-being.

The release of the SBI report coincides with the initial advance estimate report fr0m the National Statistical Office (NSO), projecting India's economy to grow at 7.3 per cent in the current financial year.

The SBI report counters the prevalent narrative by highlighting positive indicators such as income-tax data, increasing female labour force participation, and the growing popularity of food-ordering platforms, painting a favourable picture of India's economic health.

(KNN Bureau)