India's GDP expected to grow by 8.5% YoY in Q2FY22'

India's Q2FY22 GDP is expected to grow by 8.5 per cent on a year-on-year (YoY) basis amid support from a favourable base, Acuite Ratings and Research said.  As per the ratings agency, gradual removal of lockdown restrictions by most states towards the end of the last quarter will also help the GDP to grow.

Besides, it predicted a GVA growth of 7.5 per cent on YoY basis in Q2FY22. According to the agency, the steady progress in vaccination has improved consumer sentiments. Furthermore, the economy has been supported by relative resilience of the industrial sector and a gradual rebound in services sector with improved mobility, buoyancy in exports, and improved government capital expenditure.