Economists estimate India's July-September GDP growth at 4.2-4.7%

Nomura chief economist Sonal Varma has put the Q2 growth at 4.2 per cent, similar to what SBI has estimated

A severe contraction in factory output has prompted observers of the Indian economy to downsize their estimate of the pace with which it could have grown in the July-September quarter (Q2 FY20).

So much, that most of them have put the headline number at 4.2-4.7 per cent.

But this time around, services sector activity, too, has pulled down growth in Q2, they said. 

Looking forward, though they expect the Reserve Bank of India (RBI) to cut rates up to 50 basis points in the two remaining policy meetings of the fiscal year, they said the effectiveness of rate cuts has