Acuite forecasts 8.5% GDP growth for Q2FY22

Retains GDP growth projection for 2021-22 at 10%

Acuite Ratings and Research expects India’s real GDP for the September 2021 quarter to grow by 8.5 per cent on year-on-year (y-o-y) basis on account of a favourable base along with a gradual removal of lockdown restrictions by most states towards the end of the last quarter. While the agency has forecast a GVA growth of 7.5 per cent on y-o-y basis for the September 2021 quarter, it has retained the country’s real GDP growth projection for 2021-22 at 10 per cent. Acuite believes that the steady progress in vaccination has improved consumer sentiments. In addition, the economy has been supported by relative resilience of the industrial sector and a gradual rebound in services sector with improved mobility, buoyancy in exports and improved government capital expenditure.