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Below is Perspective on Q3 GDP Data by Mr. Nish Bhatt, Founder & CEO, Millwood Kane International 

“ The Q3FY23 GDP at 4.4% is very much on the expected lines. The growth rate has slowed down due to higher inflation and lower consumption. The data looks optically lower but the fact it is coming on a revised higher base than last year is encouraging. Low private consumption has been primarily responsible for the lower GDP print coupled with lower government spending and a contraction in manufacturing. Construction, Realty & Finance, trade, and hotel components provided support to the data.

Finally, the government keeping the FY23 growth estimate unchanged at 7% is positive. The slowing growth rate may lead to some measures to control inflation by the government and the central bank.”

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