On Tuesday, the Ministry of Statistics will release GDP figures for the second quarter, living between 7 and 9 percent

GDP Data for 2nd Quarter To be Declared: On Tuesday, the country’s Gross Domestic Product (GDP) figures for the second quarter (July to September) of the current financial year will be released. It is believed that in the second quarter, the economic growth rate is expected to be between 7 and 9 percent. These figures will be released by the Ministry of Statistics.

There has been an uptick in economic activity in the second quarter. So during this period, many types of relaxations were given in many states from the restrictions after the second wave of Corona. There was an uptick in vaccination coverage during the second quarter. There was improvement in the manufacturing and services sector. This is the reason that there can be an improvement in the GDP figures in the second quarter. Let us tell you that in the second quarter of 2020-21, the GDP was – 7.5 percent (negative 7.5%).

SBI Estimation

SBI has estimated in one of its reports that between the second quarter (July to September), the country’s GDP or GDP can be 8.1 percent. At the same time, an estimate of 9.3-9.6 percent has been given in the SBI report for the entire financial year. SBI’s Ecowrap report states that economic activity as measured according to SBI’s Nowcasting model is expected to generate 8.1 per cent GDP in the second quarter.

What is the Reserve Bank’s estimate

The Reserve Bank of India or RBI has projected GDP for the current financial year at 9.5 per cent. It is estimated to be 7.9 percent for the second quarter, 6.8 percent for the third quarter and 6.1 percent for the fourth quarter.

However, it is certain that the economic growth rate will be lower than the first quarter. GDP in the first quarter was 20.1 percent. That is because GDP was negative (-23.9 percent) in the first quarter of 2020-21. This was the effect of the base year, due to which there was tremendous growth in GDP because in the first quarter of 2020-21, all economic activities in the country came to a standstill due to the lockdown.

In the second quarter, there may be a great increase in the GDP of the country

It has also been said in the SBI report that if the estimated GDP rate of 8.1 percent is achieved, then it will be the best among all the considered economies of the world.

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