Bank of Baroda (BoB) has projected that India's Gross Domestic Product (GDP) growth will reach 6.9% in the second quarter of the fiscal year 2024-2025, surpassing the 6.7% growth rate recorded in the first quarter, according to a recent report. The forecast attributes this uptick in growth to a combination of strong domestic demand and favourable trends in high-frequency economic indicators, as per ANI.

The report from BoB states, "On the domestic front, GDP data for Q2 is awaited, and we expect growth at 6.9% versus 6.7% in Q1." According to BoB, the upcoming festive season, which began in September and extended into October, has further boosted demand across various sectors. This rise in consumption is evident in several indicators, including an increase in air passenger volumes and the Services Purchasing Managers’ Index (PMI), which reflects heightened activity in the services sector.