New Delhi

India’s GDP growth is expected to reach 7.5% or more in the second quarter of the current fiscal, mainly driven by robust festive sales triggered by the GST rate cut in late September, a SBI research report said on Tuesday.

Growth is being supported by a pick-up in investment activities, recovery in rural consumption, and buoyancy in services and manufacturing, underpinned by structural reforms like GST rationalisation, which also helped unleash a festive spirit that decisively showcased the triumph of hope over hype, it said.

“In the continuum of the good numbers from festive-led sales, the percentage of leading indicators in consumption and demand across agriculture, industry, and services showing acceleration has increased to 83% in Q2 from 70% in Q1. Based on the estimated

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