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Below is Perspective on Q2 GDP data by Mr. Nish Bhatt, Founder & CEO, Millwood Kane International

“ The Q2 GDP data at 8.4% is in line with most estimates, this pegs the H1FY22 growth at 13.7%. The recovery has been broad-based with most components contributing to growth. Mining, construction, real estate showed considerable growth. A good monsoon year reflected well with high agricultural output.

Private consumption is likely to pick up as we near complete normalization. The private capex will likely catch up with government spending and aid growth further.

The data will have a positive bearing on the RBI's MPC meeting next week. The low interest, excess liquidity policy is paying good results. Going forward, the way countries across the globe handle the new variant of the pandemic, rising inflation, and movement of crude price will have an impact on the growth rate across the globe.”

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