Encouraged by a lower-than-expected slide of 7.5% year-on-year in real GDP in the September quarter, chief economic adviser KV Subramanian on Friday spoke of an “upside potential” to the GDP estimates firmed up by the central bank and other agencies if the country doesn’t go through a second wave of Covid-19. The RBI had in October forecast a 9.5% contraction for FY21, while some other global agencies recently projected an up to 11% slide for the fiscal. Some of the high-frequency indicators, including manufacturing PMI, diesel sales and power demand, have since shown a rebound.