India's real GDP growth in first quarter seen at 14.2-23.3%
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Economists said the GDP data release on August 31 will reveal the extent of the second wave’s impact.
Synopsis
High-frequency indicators have been improving since June as lockdown restrictions were relaxed. Given the localised nature of restrictions during the second wave, economic activity was not as adversely affected as last year, economists said. India...
By Kirtika Suneja, ET BureauLast Updated: Aug 17, 2021, 09:40 AM IST10
The Indian economy likely grew 19-20% in the first quarter this fiscal year, aided by the strong base effect from a year ago, when it contracted by almost a quarter, offsetting the effects of the second Covid wave, an ET poll of economists said.
The median estimate was 19.5% for Q1, in a 14.2-23.3% range. The full-year gross domestic product (GDP) is expected to grow 7.9-9.6%.
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The Reserve Bank of India (RBI) expects 21.4% GDP growth in the first quarter and 9.5% in the entire fiscal. India’s GDP grew 1.6% in the preceding quarter but contracted a record 7.3% in FY21.
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While year-on-year growth picked up in the first quarter and was entirely weak-base driven, economists said GDP could fall by around 5% from the preceding quarter.
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Getty Images
Economists said the GDP data release on August 31 will reveal the extent of the second wave’s impact.
Synopsis
High-frequency indicators have been improving since June as lockdown restrictions were relaxed. Given the localised nature of restrictions during the second wave, economic activity was not as adversely affected as last year, economists said. India...
By Kirtika Suneja, ET BureauLast Updated: Aug 17, 2021, 09:40 AM IST10
The Indian economy likely grew 19-20% in the first quarter this fiscal year, aided by the strong base effect from a year ago, when it contracted by almost a quarter, offsetting the effects of the second Covid wave, an ET poll of economists said.
The median estimate was 19.5% for Q1, in a 14.2-23.3% range. The full-year gross domestic product (GDP) is expected to grow 7.9-9.6%.
ADVERTISEMENT
The Reserve Bank of India (RBI) expects 21.4% GDP growth in the first quarter and 9.5% in the entire fiscal. India’s GDP grew 1.6% in the preceding quarter but contracted a record 7.3% in FY21.
appinstlBnr
While year-on-year growth picked up in the first quarter and was entirely weak-base driven, economists said GDP could fall by around 5% from the preceding quarter.
India's real GDP growth in first quarter seen at 14.2-23.3%
High-frequency indicators have been improving since June as lockdown restrictions were relaxed. Given the localised nature of restrictions during the second wave, economic activity was not as adversely affected as last year, economists said. Indias goods exports rose almost 50% on-year to a...
