Real GDP expected to grow at 8-9% YoY in Q2FY22
New Delhi
06-November-2021
India's real GDP is expected to grow at 8-9 per cent year-on-year (YoY) in Q2FY22, Motilal Oswal Financial Services (MOFSL) said.
In a report, MOFSL said its in-house estimates suggest India's real GDP grew at 8-9 per cent YoY in Q2FY22, marginally higher than "our expectations".
The second quarter GDP numbers have not yet been released. The macro-economic data points are slated to be released on November 30.
MOFSL said: "Looking at our EAI estimates, we believe that better growth was largely supported by massive government spending in 2QFY22."
Besides, the report said the economic activity for October 2021 appeared promising.
"Most of the indicators - PMI manufacturing, toll collections, e-way or vahaan registrations, mobility indicators, and power generation - improved last month."
Watch This TWL Video
However, the brokerage house's preliminary estimates indicate that Economic Activity Index (EAI) for India's GVA posted a seven-month low growth of 5.4 per cent YoY in September 2021 versus 11.7 per cent YoY in August 2021.
"Consequently, EAI-EVA grew 9.2 per cent YoY in 2QFY22 on account of lower growth in the aFarm and Non-Farm' sectors.
This further indicates the favourable base effect is waning off - IANS
More Headlines
BJP MP Alleges Rahul Gandhi Pushed Him, LoP Dismisses Claim
Passengers May Face Inconvenience With ‘Rail Roko’ Protest In Punjab
India Reach 8/0 In Chase Of 275 As Bad Light Forces Tea Break
Tejashwi Yadav Calls ‘One Nation, One Election’ an RSS Agenda
3rd Test: Akash-Bumrah Salvage Follow-On For India On Rain-Hit Day 4
BJP MP Alleges Rahul Gandhi Pushed Him, LoP Dismisses Claim
Passengers May Face Inconvenience With ‘Rail Roko’ Protest In Punjab
India Reach 8/0 In Chase Of 275 As Bad Light Forces Tea Break
Tejashwi Yadav Calls ‘One Nation, One Election’ an RSS Agenda
3rd Test: Akash-Bumrah Salvage Follow-On For India On Rain-Hit Day 4