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Below Perspective on GDP Estimates for FY Q2' 23 By Mr. Mohit Ralhan, Chief Executive Officer, TIW Capital

“At 7.6% YoY, growth momentum continued in Q2 FY 2024. Robust growth in investments and government expenditure led to the higher-than-expected GDP print. Private consumption growth was modest on a high base. Due to a comparatively dry monsoon, manufacturing and mining activities were robust. Both registered double-digit growth on an annual basis. The agriculture sector was subdued as erratic monsoon weighed on kharif crop output. Meanwhile, services growth also remained strong on an unfavourable base. RBI had projected GDP growth in Q2 FY 2023 at 6.5%. The strong reading would lead RBI to revise its full-year growth projections at its next meeting. Given the positive growth and inflation backdrop, the central bank will remain on hold on policy rates.”

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