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Below is Perspective on Q1 FY23 GDP Data by Mr. Rajat Gupta, Founder, Tractor Junction

“The Q1 GDP data at 13.5% is below the consensus estimate. This was the first quarter with no restrictions, so it has to be compared to the Q1FY20 as same period of FY21 and FY22 were marred by lockdown and restrictions. The fall in the number may affect the RBI estimate of 7.2% for FY23.

The growth in the private consumption and farm segment provided support to the overall data. We have witnessed a slightly above par monsoon this year till now, barring some pockets that saw uneven rains. A good crop year will provide support to Q2 GDP data. Steady farm output is important for overall recovery in growth and also helps keep inflation in check.”

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