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Below is Perspective on GDP data By Mr. Rohit Poddar, managing Director, Poddar Housing and Development Ltd.

"The economic activity in Q2 FY22 received favorable support from recovery in manufacturing and construction. The gradual removal of lockdown, good monsoon year and an increasing number of vaccinations helped boost consumer confidence. India’s Q1 & Q2 FY22 growth is optically higher due to negative growth in Q1 & Q2 of FY21. The H1FY21 saw the worst growth period in the past few decades as the economic activity was severely impacted due to pandemic-induced lockdowns, but now the indicators are at a positive 8.4 %, majorly due to government support across all sectors. Even though the situation has drastically improved this year, several economic challenges such as rising inflation, high input cost, and crude price may limit govt’s capacity to act on the fiscal front.

The risk arising due to the Omicron variant are key risks to growth going forward. Continued low interest and easy liquidity policy will help sustainable growth."

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