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SBI Report: India’s GDP growth in Q1 of FY23 anticipated to be 15.7%

India’s GDP Growth in Q1 of FY23: India’s GDP is expected to rise by 13% in Q1 FY23, according to rating agency ICRA, 15.7% in Q1 FY22, and 16.2% in Q1 FY23, according to State Bank of India (SBI Report). Even though the gross domestic product (GDP) data for the April–June 2022 quarter (August 31), analysts’ growth projections range from 13% to 16.2%.

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India’s GDP Growth in Q1 of FY23: According to SBI Report

  • India’s GDP growth in the first quarter of the current fiscal year 2022–23 (India’s GDP growth in Q1 of FY23) is anticipated to increase by 13% due to a low base and a strong recovery in the contact-intensive sectors as a result of increased vaccination coverage.
  • The services sector will lead the way in terms of growth for the quarter ending in June 2022 (+17–19%; +5.5% in Q4 FY2022), followed by the industry (+9–11%; +1.3%). Agriculture, forestry, and fisheries might see a drop in GVA growth to 1.0% in Q1 FY2023 from 4.1% in Q4 FY2022.
  • India’s GDP is anticipated to rise by roughly 15.7% in Q1FY23, according to SBI Report (SBI Research’s study “Ecowrap”), with a strong likelihood of an upward bias because various indicators have shown the Indian economy to be making solid progress.
  • The anticipated GDP growth for Q1 FY23 would be 15.7%, with an upward tendency, according to SBI Report (SBI’s “Nowcasting Model”).

India’s GDP Growth in Q1 of FY23: RBI GDP Growth Data

  • Risks are rather well distributed, with the RBI’s real GDP growth prediction for 2022–23 at 7.2%, with Q1 growth of 16.2%, Q2 growth of 6.2, Q3 growth of 4.1, and Q4 growth of 4.0 percent.
  • 7% real GDP growth is predicted for the first quarter of 2023–2024.
  • India’s gross domestic product (GDP) increased by 4.1% in the fourth quarter of the fiscal year 2021–22 (Q4FY22).
  • The GDP increased by 8.7% over the course of the entire fiscal year 2021–2022.

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