India's Q2 GDP At 7.4%; Lower Than Estimates

Business

oi-Sunil

By Sunil Fernandes

Updated: Monday, November 30, 2015, 19:20 [IST]

India's GDP for the quarter ending Sept 30, 2015 came in at 7.4 per cent, against estimates of 7.5 per cent. The GDP for the last quarter was 7 per cent.

Two areas that did well were the mining and the agricultural sector.

Agriculture sector growth, came in at 2.2 percent, compared to 1.9 percent Quarter On Quarter. Mining sector grew at 3.2 percent versus 4 percent while manufacturing growth stood at 9.3 percent, compared to 7.9 percent QoQ.

Most analysts feel that the GDP figure is only of academic interest and are eagerly awaiting the RBI credit policy of Dec 1. Though the RBI is widely expected to keep interest rates steady, particular attention would have to be paid to the tone of the RBI statement.

Stock markets may not react too much as the GDP was more or less on expected lines.