News Karnataka
Friday, November 26 2021

Economy

India’s GDP expected to grow by 8.5% YoY in Q2FY22: Acuite

GDP expected to grow by 85 YoY in Q2FY22 Acuite

New Delhi: India’s Q2FY22 GDP is expected to grow by 8.5 per cent on a year-on-year (YoY) basis amid support from a favourable base, Acuite Ratings and Research said.

As per the ratings agency, the gradual removal of lockdown restrictions by most states towards the end of the last quarter will also help the GDP to grow.

Besides, it predicted a GVA growth of 7.5 per cent on a YoY basis in Q2FY22.

According to the agency, the steady progress in vaccination has improved consumer sentiments.

Furthermore, the economy has been supported by relative resilience of the industrial sector and a gradual rebound in the services sector with improved mobility, buoyancy in exports, and improved government capital expenditure.

“For FY22, we continue to retain our GDP growth forecast at 10 per cent albeit with some downside risks emanating from global supply chain disruptions, elevated commodity prices that may tighten inflationary pressures as demand makes a comeback and a potential volatility in global markets as central banks attempt a normalisation of monetary policies,” its Chief Analytical Officer Suman Chowdhury said.

MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Leave a Reply

Your email address will not be published. Required fields are marked *

Visit 7Jackpots and find the best online casinos in India! Play the most popular casino games for real money!

Find the best odds at 10Cric and ipl betting 2021! Signup today and get up to a 100% deposit bonus.

Subscribe Newsletter

Get latest news karnataka updates on your email.

error: Content is protected !!