Q2 gross domestic product (GDP) growth came in at 6.3 percent. In an interview with CNBC-TV18, Deepali Bhargava, Economist at Credit Suisse discussed about the same.
Q2 gross domestic product (GDP) growth came in at 6.3 percent. In an interview with CNBC-TV18, Deepali Bhargava, Economist at Credit Suisse discussed about the same.
Q2 GDP data is just a manufacturing driven revival, she said.
We were expecting a sharp rebound in investment primarily because of the restocking which has happened after goods and services tax (GST) implementation and because of demand, she added.
According to her, government expenditure was weak, growth will moderate to about 3-4 percent for the rest of the year and there will be some bit of over-invoicing in exports.
Long-term next year we are more positive because the GST revenues are going in the right direction, said Bhargava.
This year we continue to think that there will be disappointment on growth, she further mentioned.
Full year GDP growth forecast is at 6.6 percent for FY18 and at 7 percent for FY19, she said.
For full interview, watch accompanying video...
