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Below is Perspective on Q1 FY23 GDP Data By Mr. Raghvendra Nath, Managing Director - Ladderup Wealth Management Private Limited

“This is in line with market expectations which was in the range of 13% to 16.5 %. This quarter witnessed better economic recovery despite global uncertainties and high inflation. Indian stock market should take this number in a positive note.

However, higher interest rates can hit economic activities in the next few quarters which may slowdown the pace of India’s economic growth. We can expect another rate hike of 25 to 50 basis points in the coming months. Thus, despite India remaining the world’s fastest growing economy, all eyes are place on global recession fears and rising borrowing costs.”

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