‘Q2 GDP likely to re­cover to 6%’

The Hindu Business Line - - NEWS - PTI

The econ­omy is likely to pick up to 6 per cent in the sec­ond quar­ter of the cur­rent fis­cal, ow­ing to an uptick in sev­eral macroe­co­nomic in­di­ca­tors like trade, trans­port and com­mu­ni­ca­tion, says a re­port. “In the first quar­ter GDP grew at 5.7 per cent,caus­ing a lot of heart­burn, but we strongly be­lieve that the sec­ond quar­ter growth is likely to trend higher and might be in the lower end of 6-6.5 per cent band with an up­ward bias,” SBI Re­search said in a re­port to­day. Ac­cord­ing to re­port, IIP growth for Septem­ber may likely be over 5 per cent as min­ing and elec­tric­ity growth is also to be sig­nif­i­cantly bet­ter as state elec­tric­ity boards have pur­chased power be­cause of fes­tive de­mand.

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