India Expects GDP Surprise After Best Q1 For Loan Growth in Decade
· Business · Indian Express, News18, Moneycontrol
India's economy has largely weathered geopolitical tensions and energy shocks from the West Asia conflict, with MoSPI set to release Q1 GDP data on August 31. While the RBI forecasts 7% growth for April-June, bank economists estimate the headline figure could reach between 7.5% and 8%. SBI tracks over 50 economic indicators, noting that 86% of them accelerated during the quarter compared to 69% in the previous year. Underpinning this robust performance is a surge in loan demand, with outstanding non-food bank loans rising 18.3% year-on-year by the end of June. This marks the strongest first-quarter credit demand in more than a decade, defying the usual seasonal slowdown.
Why it matters
The stronger-than-expected economic growth and credit demand signal robust domestic resilience for Indian businesses and consumers despite global energy shocks. This points to continued expansion across key sectors that will directly influence upcoming monetary policy decisions by the RBI.
Read the original report — Indian Express
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