India Business News: Most analysts expected the Q2 GDP growth data to moderate to around 6.8%. The 7.6% GDP growth is a slight moderation from the 7.8% GDP growth witnesse
ICRA, which estimates Q2 GDP growth at 7 per cent topping the Monetary Policy Committee's forecast of 6.5 per cent, said growth may slow down in the second half of the financial year ahead of the elections as the impact of slowing capex and tempering of demand because of monetary tightening shows through in full.
In an interview with Karan Thapar, economist Pronab Sen talks about the state of the Indian economy going forward as the global economy stares at a recession.
The country's GDP had shrunk 7.3 per cent during the same quarter last year, after the economy suffered a major blow in the wake of a strict lockdown due to the first coronavirus wave.