NS Gross Domestic Product The growth rate in the April-June quarter of the current financial year was 20.1 percent. The Indian economy contracted by 24.4 per cent in April-June last year.
In value terms, GDP stood at Rs 35,73,451 crore in July-September 2021-22, up from Rs 35,61,530 crore in the corresponding period of FY 2019-20.
Most experts felt that India’s GDP growth in the second quarter of FY12 is on expected lines, as the economy picks up.
Here’s what he said…
Real GDP growth of 8.4% in the second quarter has been slightly better than consensus but in line with our expectations. While there was a reduction in services in the first quarter, with better traction thanks to the high connectivity activities, the segment posted . has performed relatively well in
Sujan Hazra, Chief Economist, Anand Rathi Securities, Mumbai
We expect India to grow at 9.5%-10% in FY12… With growth revival and sticky core inflation, we expect RBI to do a phased withdrawal of liquidity and raise policy rates soon will start.
Madhavi Arora, Chief Economist, Emkay Global Financial Services
(Q2 GDP) data confirms that the economy is on a sustained recovery and will likely return to pre-pandemic levels before the end of FY22. We believe that further nascent recovery may still be partly led by capital and profits and may be marked by a poor and fragmented labor market (as seen by slowing rural demand) and sub-optimal Effective fiscal policy stimulus. However, external demand drivers in the form of exports and sustained government capital expenditure will need to bridge growth until private investment and consumption improve.
Rajni Sinha, Chief Economist and National Director (Research), Knight Frank India
The recovery was “led by the services sector, with individual mobility at pre-Covid levels, and hyper-adjustable financial conditions,” as well as higher government spending
Gaura Sen Gupta, Economist at IDFC First Bank, Mumbai
The improvement in GDP growth in the second quarter is on expected lines. With increased vaccinations and the economy returning to normalcy, most high-frequency economic indicators have returned above pre-Covid-19 levels. Corporate performance as reflected in the quarterly results also showing healthy recovery in the economy
Sakshi Gupta, senior economist, HDFC Bank, Gurugram
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