The economy is likely to grow by 7.6% in the October-December quarter of the current fiscal, the fastest pace of expansion in five quarters, according to India Ratings.
India Ratings said growth may have ticked higher in the third quarter by 7.6% compared to 7.4% in the second quarter of this fiscal.
“Growth is likely to get support from favourable base effect, as GDP in the third quarter last year grew by 6.6%. Also, domestic demand witnessed during the festival season is expected to support growth even as global headwinds have had an adverse impact on manufacturing and exports”, India Ratings chief economist Devendra Pant said.
The official GDP data for the third quarter of the current fiscal is scheduled to be released on Monday.
On the other hand, estimates by the National Council of Applied Economic Research (NCAER) show that GDP will grow at 7.4% for 2015–16 and 2016–17.