NEW DELHI, Nov 18: India’s GDP growth for Q2FY26 is expected to surpass 7.5%, driven by strong festive sales following the late-September GST rate cut, according to an SBI research report.
Growth is supported by rising investment, rural consumption recovery, and buoyant services and manufacturing sectors, aided by GST rationalisation.
Leading indicators of consumption and demand across agriculture, industry, and services increased to 83% in Q2 from 70% in Q1. November GST collections are estimated to cross Rs 2 lakh crore, fueled by festive demand and higher compliance.
Credit and debit card spending showed robust growth, especially in mid-tier cities. SBI projects a cautiously optimistic macroeconomic outlook, underpinned by domestic demand, easing inflation, and GST 2.0 reforms. (PTI)
