pencilled in a high 13-15.7%
uptick in the economy in
the first quarter of 2022-23
with an upward bias.
Soumya Kanti Ghosh, the
group chief economic advis-
er at State Bank of India, on
Tuesday said he expects the
GDP to clip past 15.7% in the
first quarter with more
chances of the final num-
bers printing in higher.
However, Aditi Nayar,
chief economist at the rating
agency ICRA, said the eco-
nomy would grow at a much
slower 13% in the June quar-
ter. The national statistical
office will announce the
first quarter GDP numbers
later next week.
While the GDP contract-
ed by 23.9% in June 2020
due to the first wave of the
pandemic, the same got a
boost in June 2021 clipping
at 20.1%. The Reserve Bank-
led monetary policy com-
mittee in the August 5 policy
review projected the econo-
my to grow 16.2% in the
AprilJune quarter.
ICRA expects sectoral
growth to be driven by the
services sector which would
likely log 17-19% growth.
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