India's Q2 GDP data to be released today: Check how Indian economy is likely to perform in July-September quarter

India GDP Data Release: The National Statistical Office will release the Gross Domestic Product (GDP) estimates for the second quarter (July-September) of the ongoing financial year, today, November 30.

The Reserve Bank of India (RBI) in its report had estimated the real GDP growth at 7 per cent in 2022-23 and 6.3 per cent in Q2. RBI also expects the GDP growth at 4.6 per cent in each Q3 and Q4 – with risks broadly balanced around this baseline path.

State Bank of India (SBI) Research has pencilled in the country's GDP growth for the second quarter at 5.8 per cent, down 30 basis points from average estimates.

In a report on November 28, SBI Research headed by Soumya Kanti Ghosh said corporate results, operating profit of companies, excluding banking and financial sector, grew by 14 per cent in Q2FY23 as against 35 per cent growth in Q2FY22, though the top line continued to grow at a healthier pace. Net sales grew by 28 per cent, while the bottom line was down by around 23 per cent from the year ago period.

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Estimates of GDP for the First Quarter (April-June) of 2022-23

Real GDP or GDP at constant (2011-12) prices in Q1 2022-23 was estimated to attain a level of Rs 36.85 lakh crore, as against Rs 32.46 lakh crore in Q1 2021-22, showing a growth of 13.5 per cent as compared to 20.1 per cent in Q1 2021-22.

Nominal GDP or GDP at Current Prices in Q1 2022-23 was estimated at Rs 64.95 lakh crore, as against Rs 51.27 lakh crore in Q1 2021-22, showing a growth of 26.7 per cent as compared to 32.4 per cent in Q1 2021-22.

How is GDP estimated?

GDP is derived as the sum of the gross value added (GVA) at basic prices, plus all taxes on products, less all subsidies on products. The total tax revenue used for GDP compilation includes Non-GST Revenue as well as GST Revenue. 

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