India’s second-quarter GDP data to be released today

The second-quarter gross domestic product (GDP) data on India will be released today with the industry expecting positive news. The data will be released by the National Statistical Office.

According to Q2FY21 GDP provisional data from various agencies, the country could well be the slowest-growing economy, among a list of 24 countries, in the July to September quarter. The RBI has predicted that from an unprecedented 23.9% contraction in the June quarter, the economy is seen shrinking 8.6% in the September quarter.

Earlier on Wednesday, RBI Governor Shaktikanta Das said that India’s economy has exhibited a stronger pick-up in momentum of recovery than expected. Das cited that a multi-speed normalisation of activity in Q2FY21, after the country witnessed a sharp contraction in GDP by 23.9 per cent in Q1FY21.