The GDP data for the September quarter, due on Friday, may show some positive surprise, according to Abhishek Upadhyay, Senior Economist, ICICI Securities Primary Dealership.
“We are looking at GDP contraction of 8.2 percent and a real gross value added (GVA) contraction of 9 percent and leading indicators suggest that economy has improved sharply,” he added.
The leading macroeconomic indicators suggest the economy has improved sharply, Upadhyay said adding that he saw a large scope for normalization going ahead.
According to him, the two key services which saw a decline earlier were construction and retail services.
Upadhyay noted that the government spending was strong in Q1, up 16 percent YoY.
For the entire interview, watch the video.