Rating agency India Ratings forecasts the Gross Domestic Product (GDP) to expand 8.3 per cent in Q2 and close the year with 9.4 per cent. The agency has seen higher growth for the nine successive quarters of more than 3 per cent agriculture growth which is around 10 per cent in the September quarter of the current fiscal.

The primary reason is the rise in vaccination which grew to 890.21 million as of October-end from 335.72 million at June-end. The government will declare the numbers on 30th November. Q1 was impacted by the second wave, which reduced workplace mobility and was 26 per cent lower than the baseline and 16 per cent lower than FY21. The workplace mobility improved after vaccination met the momentum. Total vaccinations jumped to 890.21 million at end-Q2 from 335.72 million at end-Q1.

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Investment activities have also found support from the centre’s focus on infrastructure, and the fixed capital can grow at 8.5 per cent in Q2. The government Capex grew 51.9 per cent in Q2 as against 26.3 per cent in the previous quarter. However, recent reforms like Production-Linked Incentive (PLI) schemes and continued export growth can blow the ongoing growth recovery.