SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 27 Aug, 2021  

India.Growth.9.Thmb.jpg India's Q1FY22 GDP growth seen ranging above 14% in Q1FY22

GDP.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
SME Times News Bureau | 27 Aug, 2021
Pent-up demand along with low base is expected to accelerate India's economic growth rate in Q1FY22 on a year-on-year basis.

Accordingly, the period from April-June 2021 had less stringenet lockdown norms than the same period of 2020.

These partial lockdowns were mainly regional in nature.

Besides, a steady growth in exports as well as robust performance of agricultural sector is expected to give a push to GDP growth.

A poll of economists and industry experts conducted by IANS showed that majority of them expect a GDP growth rate during Q1FY22 to range between 24-14 per cent.

"We estimate GDP growth at a deceptively high 20 per cent in Q1FY22 boosted by abnormally low base of last year's nationwide lockdown," said Aditi Nayar, Chief Economist, ICRA.

"Healthy exports, government capital spending and resilient farm demand have supported economic activity amidst the staggered state-wise restrictions."

According to Emkay Global's Lead Economist Madhavi Arora: "The GDP growth is likely to be better than initially expected helped by base effect and healthy corporate operating profits in June quarter, allying fears of sharper sequential losses."

"GDP growth could range between 19-22 per cent. Strong net taxes will imply GDP growth will overshoot GVA growth in Q1FY22."

Last year, a near complete nationwide lockdown led to a massive 24.4 per cent YoY contraction in Q1FY21 GDP.

"The growth print is likely to be supported by the relative resilience of the industrial sector in this phase of the pandemic, steady uptick in exports and improved government capital expenditure levels apart from the base factor," said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

"We have projected a GVA YoY growth of 20 per cent and a GDP growth of 22-23 per cent for Q1FY22."

However, the absolute levels of output will still be lower compared to the pre-Covid levels.

"India Ratings expects 1QFY21 GDP growth to come in at 15.3 per cent. But for the Covid 2.0, it would have been higher. However much of the double digit growth is going to be on account of low base of last year," said India Ratings & Research Principal Economist Sunil Kumar Sinha.

"To put the things into perspective it would still be 12.9 per cent lower than the GDP of 1QFY20."

Even on sequential basis, GVA and GDP vis-a-vis Q4FY21 is expected to be higher. India's GDP had grown by 1.6 per cent in the fourth quarter of last fiscal.



"We expect GDP growth for Q1FY22 at 14 per cent (year-on-year), largely due to a low base in Q1FY21. The subsequent quarters will see an improvement if there is no resurgence of the virus in the form of a third wave," said Brickwork Ratings' Chief Economic Adviser M.Govinda Rao.

"Although many states have started easing the lockdown restrictions recently, economic activities have not resumed completely to their pre-Covid levels."
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter