India’s GDP data for the July-September quarter of this fiscal year will be released by the National Statistical Office (NSO) later this evening. The data would elaborate on the expansion of different sectors like agriculture and manufacturing in the first quarter of this financial year.
Many analysts believe the Indian economy will expand at a single-digit rate mainly due to the waning base effect. According to the rating agency ICRA, the gross domestic product (GDP) is expected to grow at 6.5 per cent, while the State Bank of India in its report pegged the growth rate at 5.8 per cent.
Last year, the GDP growth rate was 8.4 per cent in the July-September quarter. Earlier this month, in an article published in the Reserve Bank of India (RBI) bulletin, the GDP growth is pegged at 6.1 to 6.3 per cent in the second quarter of this fiscal year.
The various GDP growth projections for the second quarter are either half or less than half of the 13.5 per cent recorded in the April-June quarter this fiscal.