In the second quarter of fiscal 22, real GDP is expected to grow at an annual rate of 8-9%.

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According to Motilal Oswal Financial Services (MOFSL), India’s real GDP is expected to grow at an annual rate of 8-9% in the second quarter of fiscal year 22. Real GDP is the inflation-adjusted total of all finished goods and services produced in a country during a given period.

MOFSL said in a report that its internal estimates suggest India’s real GDP grew 8% to 9% year-on-year in Q2FY22, slightly above “our expectations.” GDP figures for the second quarter have yet to be released. On November 30, macroeconomic data points will be released.

“Looking at our EAI estimates, we believe that better growth during 2QFY22 was largely supported by massive government spending,” MOFSL said. Moreover, according to the report, economic activity for October 2021 looks promising. “Most metrics have improved over the past month, including manufacturing PMI, toll collections, e-way or vahaan check-ins, mobility metrics, and power generation.” However, preliminary estimates from the brokerage show India’s GVA Economic Activity Index (EAI) rose to a seven-month low of 5.4% year-on-year in September 2021, from 11.7 % year-on-year in August 2021.

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