India’s gross domestic product (GDP) grew 13.5% in the first quarter of this year (April to June), a significant increase from the 20.1% growth in the same period last year.
Real-time update on India’s Q1 GDP growth: India’s GDP grew by 13.5% in 2022-June 2022-June. This is lower than the RBI’s economic growth forecast of 16.2%.
India’s GDP per square meter India’s economy grew at the fastest rate of the year, driven by consumption that helped the RBI meet its inflation target. According to data released by the National Statistical Office (ONS), the gross domestic product (GDP) in the first quarter of this year (April to June) increased by 13.5% from the same period last year (20.1%). year. year. . Wednesday.
India Q1 GDP: GDP data unlikely to change RBI growth rate
The recovery of the services sector is the main source of support for overall growth in the first quarter of 2023, providing more than two-thirds of its lifecycle. On the demand side, consumption and income remained stable, and high commodity prices increased net profit. DBS Bank’s CFO, Radhika Rao, said exports would be a major obstacle. Despite a slight decline in our official growth forecast for the June 22 quarter, the RBI MPC remains focused on fighting inflation and it is unlikely that the GDP release will change the course of interest rates. We will leave FY23 this year as the 140bp rate cut will eventually push real exchange rates into positive territory.
“Increase production speed.”
GDP growth in the first quarter was up 13.5% from the slump a year ago. However, HDFC Bank’s chief financial officer, Sakshi Gupta, said there are signs of recovery in some sectors, particularly currency-intensive services. Going forward, we expect growth to approach 7% this year and average 4.5% in the second half of the year. As global growth continues, downside risks remain and the RBI is unlikely to tighten monetary policy further than the Fed. We expect a smaller 25bp rate hike. September politics
India’s fastest growing economy in a year
India remains the world’s fastest-growing economy, but growth appears to be slowing due to fears of a global recession and rising borrowing costs.
“We are seeing signs of relief in the economic slowdown,” said Kunal Kondo, an economist at General Corporation GSC Pvt. When borrowing costs rise and the domestic economy is strong, corporate investment is highly likely to contract.
Subsequent growth in mining operations has remained largely unchanged, while the public energy, government, construction, and real estate sectors have grown.
Industry growth in the first quarter of FY23 was lower than expected, services growth was in line with expectations, and agriculture beat expectations.
- – An industry growth rate of 8.6%
- – Service growth rate 17.6%
- – Agricultural growth rate 4.5%
GVA for the first quarter of fiscal year 23
The first quarter GVA of FY23 (April-June) was 12.7%.
Nominal Gross Domestic Product
Nominal GDP or gross domestic product (GDP) for the first quarter of 2022-2023 is estimated at $64.95 billion, up 26.7% from 32.4% in the first quarter of 2021 from 51.27 billion in the first quarter of 2021-22. -2022,” MoSPI said in a statement.
August 31, 2022, 5:42:20 PM (IST)
RBI forecasts a 16.2% economic growth
India’s GDP will grow by 13.5% in April-June 2022. This is lower than the RBI’s economic growth forecast of 16.2%.
India records annual GDP growth
The real gross domestic product (GDP) (2011-2012) based on constant prices are expected to peak at 368.5 billion won in the first quarter of 2022-23 from 324.6 billion won in the first quarter of 2021-22. This is an increase of 13.5%. This compares to 20.1% in the first quarter of 2021-2022.
India’s GDP growth of 13.5% in the first quarter of fiscal 2023
According to data released by the National Statistical Office (NSO), India’s gross domestic product (GDP) grew by 13.5% in the first quarter of this year (April to June) compared to the same period last year.