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Indian GDP to grow 7.8% in Q2, 9.4% in FY22: Report

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Official data print on the GDP will show a 7.8 percent expansion on a year-on-year basis for the September 2021 quarter, according to a report. Real GDP will grow 9.4 percent in FY22 and decelerate to 7.5 per cent for FY23 as the base effects result in the higher growth in the ongoing fiscal wear-off, according to the report by economists at HDFC Bank released on Wednesday.

In FY21, the GDP had contracted 7.3 percent due to the pandemic. For FY22, the RBI expects GDP to clock a growth of 9.5 percent, which will slow to 7.8 percent in FY23. The GDP had expanded by over 20 percent for the first quarter on the lower base.

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