₹65.31 lakh crore, as against ₹56.20 lakh crore in Q2 FY22, showing a growth of 16.2% as compared to 19.0% in Q2 FY22. Shares closed at record highs for a fifth straight day today, extending their daily rally to seven days and logging a second straight month of gains, as investors cautiously awaited gross domestic product data.
Many analysts believed that the Indian economy will expand at a single-digit rate mainly due to the waning base effect. Rating agency ICRA expected the GDP to grow at 6.5%, while the State Bank of India in its report pegged the growth rate at 5.8%.
The Reserve Bank of India (RBI) in its bulletin pegged the GDP growth at 6.1 to 6.3% in the second quarter of this fiscal year.
The various GDP growth projections for the second quarter are either half or less than half of the 13.5% recorded in the April-June quarter this fiscal.