Mumbai: The Indian economy is expected to grow by 6.1 to 6.3% in the July-September quarter. If the GDP grow at this pace this will take the GDP a 7% growth path for 2022-23. The Reserve Bank of India (RBI) updated this. The data for the second quarter of this financial year (July-September) is expected by November end.
‘Based on high-frequency indicators, our nowcasting and full information models peg real GDP growth in July-September between 6.1 per cent and 6.3 per cent. If this is realised, India is on course for a growth rate of about 7 per cent in 2022-23,’ the RBI said in its November bulletin.
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As per the apex bank, the good northeast monsoon rainfall and reservoir water storage levels are positive for this growth.
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