In this article, we are going to discuss about Q2 GDP. Recently, brokerages and experts have said the growth is going to exceed 7%. The India Q2 GDP growth data currently expect to surpass the RBI estimates for the second time continuously with most analysts currently expecting a growth rate of 7% or more. At this time the main focus is on India’s gross domestic product (GDP) growth data for the quarter that ended in September 2023 of FY24 which is all set to be announced today. Now let us delve into this article and learn about the several brokerages who are expecting India’s GDP growth to be in Quarter 2 and also in FY24.
GDP Q2 FY24
On 30th November 2023, Thursday, the official GDP data from the September quarter of FY24 (Q2FY24) is going to be announced later this day. A lot of market experts are expecting that the Q2 GDP growth data might surpass the RBI estimates for the second time now continuously in the fiscal year. The Reserve Bank of India (RBI), is expecting India’s GDP growth at around 6.5% for the Q2 of FY24. It is the same as it is intimating for the June quarter (Q1FY24).
According to the experts, if the Q2 GDP comes at around 7% or above a lot lot of analysts have claimed then it is going to be the second consecutive quarter where the economy has surpassed the RBI estimated in this fiscal. In the official Q1FY24, the GDP of India expanded to 7.80% which surpassed the expectations of the market of 7.7% and also the RBI forest of 6.5%. It has been claimed that it will go ahead RBI expects India’s GDP growth to slow after Quarter 2. But in the 3rd and 4th quarters, it is going to see GDP growth which is going to come at 6% and 5.7% respectively. The RBI is expecting the growth of GDP to be around 6.5% for the entire FY24.
Barclays one of the brokerages has expected the India GDP in Q2FY24 to expand by 6.8% YoY which is much slower than the 7.8% print in Q1FY24 but it has been reported that it is still showing robust sequential growth. The growth in the services may be going to moderate from the double-digit seen in the Q1FY24 but it has a great nevertheless which is approx 7.7%. It is going to underlie the growth trends which are going to continue to look robust in India.