JPMorgan’s Sajjid Chinoy anticipates a potential upside surprise in GDP data, projecting a 7.5% growth driven by stronger agricultural production and increased government spending in the second half of the fiscal year. While urban consumption slows due to depleted savings and wage deceleration, rural consumption shows promising signs of recovery, potentially boosted by a favorable monsoon and benign inflation.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets