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Q2 GDP Growth: The country’s economy is expected to grow at a rate of 7% during the second quarter of the current financial year. This estimate has been made by research firm ICRA. This is higher than the Central Reserve Bank’s estimates. Let us tell you that the Reserve Bank had estimated the economy to grow at the rate of 6.5%. However, ICRA’s estimate is lower than in the first quarter of the financial year. Growth in the first quarter was estimated at 7.8%.
GDP of a financial year
Aditi Nair, Chief Economist, ICRA, said – GDP growth will remain subdued due to the impact of untimely rains, low commodity price differentials, a possible slowdown in the run-up to parliamentary elections, weak external demand and monetary tightening. “In such a scenario, we retain our GDP growth forecast of 6% for FY2024, lower than the Reserve Bank’s estimate of 6.5%,” he added. The report said that investment activity in the country remained strong during the second quarter.
Estimates from Goldman Sachs
India’s real global domestic product (GDP) growth rate will decline marginally to 6.3 percent next year. American brokerage company Goldman Sachs has made this prediction. The brokerage said – The next calendar year will be of two parts, with government spending increasing ahead of the next general elections, while after the elections it will again boost investment growth, especially from the private sector. The brokerage firm said growth is likely to pick up to 6.5 percent in the current fiscal from an estimated 6.2 percent in fiscal 2024-25.