“GDP growth in first quarter to be 14% – 15%” : Experts forecast

by time news


Economists have predicted a GDP growth of 14 to 15 percent in the first quarter of the current fiscal due to the recovery of the services sector in India.

The GDP figures for the first quarter of the current fiscal year will be announced on August 31. In this case, according to the forecast of 10 economists, the average GDP growth will be 14.43 percent. Also, they said that the GDP growth in the financial year 2022-23 will be 7.2 to 7.6 percent. Although uncertainty in the Indian economy still lingers, the worst is over, they said.
Earlier, in the forecast published by the Reserve Bank, the GDP growth in the first quarter was 16.2 percent and the growth in the financial year was 7.2 percent.

How is the exponential growth rate:

The first quarter of the current financial year, which shrank due to the impact of Covid, is expected to be the largest. “Despite the global intervention, the first quarter results show that economic activity has started to recover,” said HDFC Bank Chief Economic Adviser Abeek Baruah.

Following the reduction in the spread of Covid infection, service sectors including travel, cinema and hospitality are recovering. Although some consumer sectors were hit by inflation, economic growth is on the upswing.

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According to Nomura estimates, ‘In a broader view, exports were down. Growth can be seen in consumption, investment, industries and other sectors. Overall, we expect economic growth momentum to be strong in the first quarter.

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Food prices, high inflation and rising interest rates have had a significant impact. But it is notable that its impact was less in the April-June quarter.

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