India Q2 GDP numbers

Decoding India's Q2 GDP growth of 7.6%

In this episode of EY India Insights podcast series, our Chief Policy Advisor, Dr. D.K. Srivastava decodes India's remarkable Q2 FY24 GDP growth of 7.6%, exploring its broad-based nature and recovery from COVID-19 shock. He discusses the central government's pivotal role in driving domestic demand. He also delves into sectoral growth dynamics, highlighting high-performing segments along with potential risks to the growth outlook. These risks include challenging global conditions and subdued agricultural growth. He also shares insights on India's fiscal landscape and explains the crucial interplay between fiscal discipline and sustained economic growth.

Related topics Tax

In conversation with:

D. K. Srivastava

D. K. Srivastava
EY India Chief Policy Advisor

Key takeaways

  • India's GDP growth of 7.6% in Q2 FY24 exceeds estimates, reflecting a broad-based recovery primarily led by robust domestic demand.
  • High-performing sectors include manufacturing, construction, real estate and professional services, many of which are employment-intensive.
  • Despite strong domestic demand, global uncertainties, low agricultural growth and lower-than-expected nominal GDP growth pose risks for India. 
India's robust Q2 growth signals a full recovery from the COVID-19 shock, driven by strong domestic demand in spite of exogenous factors such as global uncertainties
D. K. Srivastava
EY India Chief Policy Advisor

For your convenience, a full text transcript of this podcast is available on the link below: Read the transcript

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Podcast

Duration 19m 43s

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