New Delhi: Rating agency ICRA on Tuesday projected GDP growth to moderate in July-September period of FY26 to 7 per cent, from 7.8 per cent in the previous quarter, amid lower government spending.

ICRA said while the services and agriculture sectors would lose some momentum in the second quarter, industrial performance would be strong propelled by manufacturing, construction and favourable base effects. This is expected to underpin the quarter’s economic activity.

The rating agency in a statement said it expects GDP growth to ease to 7 per cent year-on-year in Q2 (July-September) from 7.8 per cent in Q1 (April-June) FY2025-26. Indian economy had expanded 5.6 per cent in the Q2 (July-September) of 2024-25 fiscal.

The National Statistics Office (NSO) is slated to release the official d

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