Pre-monetary policy view : Real GDP has increased by 6.3% in Q2 FY23 in line with RBI's forecast Says Deepak Agarwal, Kotak Mahindra AMC
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Below is quote on Pre-monetary policy view by Deepak Agarwal, CIO (Debt), Kotak Mahindra Asset Management Company
"Real GDP has increased by 6.3% in Q2 FY23 in line with RBI's forecast. The GDP for H1FY23 has grown by 9.7%. The growth in gross fixed capital formation has been robust at 15.3% in the first half and is likely to run in double digits in the second half as well.
"With full year forecast for FY23 growth in the vicinity of 7%, the second half GDP for FY23 is likely to be in the 4.25-4.5% range. After a subdued government spending in the first half, the pick-up in second half will provide support to growth. Recent fall in crude prices and falling inflation expectations will continue to boost private consumption, thereby aiding growth.
"On a qualitative aspect, the pick-up in share of private consumption to 59.2% of GDP in 1H 2022-23 from 55.4% in 1H 2021-22 and Gross Fixed Capital Formation to 34.7% of GDP from 33.1% last year holds a silver lining for Indian economy." - Deepak Agrawal, Chief Investment Officer, Debt Fund, KMAMC
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