A SBI Research report said India’s FY24 GDP growth is likely to be higher than the threshold 6 per cent. The report, titled Ecowrap, added though some reports indicated that there may not be a one-to-one correspondence between El Nino and Indian droughts, the recent fears seem misplaced. In the report, Soumya Kanti Ghosh, group chief economic advisor, SBI, said, "We are also not overtly concerned regarding the recent news of El Nino. Looking at the relation between El Nino and Indian droughts since 1950, it is observed that India faced 13 droughts, and 10 of these were in El Nino years and one in a La Nina year."
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