India's July-September GDP growth seen at 7-8 percent
India's July-September GDP growth seen at 7-8 percent
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MUMBAI: The growth rate of India's Gross Domestic Product (GDP) for the July-September quarter is likely to remain in the range of 7-8 percent. In the first quarter of the financial year 2021-22, India's GDP seen a growth of 20.1 percent compared to the corresponding period of the last fiscal.

According to the EcoScope report of Motilal Oswal Financial Services Limited (MOFSL), there would be some moderation in Economic Activity Index-Gross Value Added (EAI-GVA) growth in July 2021, largely on account of weaker fiscal spending. It, however, stated that private spending -- consumption and investments -- on the other hand, has grown decently.

"Although there is no one-to-one correlation between our Economic Activity Index and the official GDP/GVA due to the underlying differences, our composite indices move in sync with the official real GDP (ex-discrepancies) and real GVA estimates," it said. "Accordingly, we expect real GVA growth of 7-8 percent YoY in 2QFY22 v/s 20.1 percent YoY growth in 1QFY22." As per Motilal Oswal's estimates, total consumption grew 5.1 percent YoY in July 2021 against 2.7 percent in June 2021 and '-12.1' percent in July 2020.

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