| Not surprisingly, given what's happening on interest rates and on exports,Q2 GDP growth rates are down to 8.9% as compared to 10.2% in the same period last year. The year, however, looks all set to end at around 9% GDP growth. For one, while September IIP growth is half that of a year ago, this is explained by Diwali coming later this year, and so, IIP growth is likely to rise next month. Investment growth continues to be very strong and the share of investment in GDP is up to 32.3% in Q2. Exports growth could bounce back if, as most analysts expect, the rupee stabilises. |
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