India's Q2FY24 GDP growth expected to outpace RBI's projections

As anticipation builds for India's Q2FY24 GDP data release on November 30, experts foresee another potential surpassing of RBI estimates for the second consecutive quarter in the current fiscal year.

RBI's forecast of 6.5% GDP growth for Q2FY24 mirrors its estimate for Q1FY24. However, the economy surged beyond expectations in the previous quarter, hitting 7.8% growth, outperforming both market predictions and RBI's projection of 6.5%.

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Analysts predict a similar trend for Q2, with expectations hovering around 7% growth or higher. This potential overachievement would mark the second successive quarter where the economy outshines RBI's estimates in this fiscal year.

Despite this optimism, RBI foresees a gradual slowdown in GDP growth for the following quarters. Projections indicate a decline to 6% and 5.7% growth in the third and fourth quarters, respectively. Overall, RBI anticipates a broad 6.5% GDP growth for the entire FY24.