Economists at the country's largest lender SBI on Wednesday said they see Q2 real GDP growth slowing down further to 6.5 per cent in the September quarter of this fiscal year.
Amid concerns over the country's economic growth rate and if it is slowing down, the analysts said they expect FY25 growth to come "closer to" 7 per cent.
It can be noted that the April-June period saw the real GDP expanding by 6.7 per cent, the lowest in 15 quarters. This led to a slew of analysts revising their expectations on growth to below 7 per cent for the fiscal and some also wonder if India is in a cyclical growth slowdown.
"There is some incipient pressure evident on the domestic economy. Basis our analysis of 50 meaningful leading indicators (both consumption as also demand centric), a dip looks plausible across select cohorts of agri, industry and services in Q2," the SBI economists said.
It said aggregate demand continued to grow albeit with a slower momentum than in the preceding quarters and ..