New Delhi: Q2 GDP numbers for the Indian Economy are slated for release on 30th November. Various experts, economists, and analysts predict that the economy grew in the stable range of 7-9%. However, it is down from Q1 which was 20.4%.
A goof pickup in demand and an improved vaccination rate for Covid-19 are likely the key reasons to continue the uptick in the growth rate for the second quarter this year. The Indian economy is likely to have grown between 6.5-9.9 percent in July-September, the estimates are by economists. The GDP data for July-September will be released later today by the National Statistical Office (NSO).
According to SBI’s Nowcasting Model, the GDP growth for Q2FY22 would be 8.1 percent, with an upward bias and lower base effect waning off. The full-year (FY22) GDP growth is now revised upwards to 9.3-9.6 percent, which was earlier estimated to be 8.5-9 percent.
This growth will be higher amongst all economies suffering from the pandemic. All major indicators such as industrial production, sales, exports, port cargo traffic, rail freight traffic, and goods and service tax (GST) e-way bills points, that the economy is growing faster in the second quarter. However, the scare is of ‘Omicron Variant’ spread that can lead to a drop in numbers of growth due to imposed restrictions.