New Delhi: India’s economy is likely to post strong growth in the quarter in front because some high frequency indicators suggest recovery taking place, analysts at the Global Ratings S & P said on Wednesday.
High frequency indicators such as sales of motorized vehicles and GST receipts show growth will increase during July 2-September, Vishrut Rana, the Asia-Pacific economist at S & P, said in a presentation.
He also said that the second wave of pandemics had a large number of “grated tissue” on growth.
Severe pandemic waves cut into economic activities, leaving GDP staggered at almost 17% under the pre-pandemic trend, according to the presentation of the ranking body analyst.
The economy grew 20.1% annually in the April-June quarter, assisted by a low base last year.
But economists expect recovery to gather momentum and overall growth for full fiscal years expected in two digits.
S & P estimates that the economy grows by 9.5% in the current fiscal year and 7.5% the next time, while nominal GDP growth is likely to be 10%.
S & P expects India to see strong environmental growth in front
