By Malvika Gurung
Investing.com — The government will release Indian (GDP) data for the June 2022 quarter on Wednesday, with analysts forecasting the country’s economy to have grown over the period.
The Ministry of Statistics and Program Implementation (MOSPI) will release the country’s GDP data for the April-June 2022 quarter at 5:30 PM on Aug. 31, and economists expect the printout to grow at the fastest pace in a year.
According to a Bloomberg survey, GDP in the quarter is expected to grow 15.4% from the same period a year ago, while a Reuters poll suggests a growth forecast of 15.2%.
Domestic rating agency ICRA (NS:) has forecast GDP to grow 13% in Q1 FY23, while RBI sees 16.2% growth and 15.7% growth is pegged to the National Bank of India (NS:).
Overall, analysts largely expect strong double-digit GDP growth in the first quarter of FY23, compared to 4.1% growth in the previous quarter, helped by a strong recovery in domestic demand but a low base.
Ritika Chhabra of Prabhudas Lilladher expects GDP to grow 14-14.5% yoy in Q1 FY23 as broad upturns were seen in consumption, services and investment.