Comment on Q3 GDP growth from Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
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"Q3 GDP growth at 5.4% indicates slowing growth momentum in the economy. This poses serious policy challenges. RBI's accommodative monetary stance is necessary to sustain growth in the economy, but this is difficult, almost impossible, with crude above $100 and an imminent spike in inflation. FY 22 GDP is likely to come at 8.9%, lower than budget estimates. This means the fiscal deficit for FY22 will be higher than projected. In brief, macro headwinds are getting stronger"
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