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Perspective on the Reaction to the GDP Numbers for Q1 FY 2023 by Mr Mohit Ralhan, CEO, TIW Capital Group

“The growth of 13.5% in India’s GDP for the June quarter is quite remarkable given that most of the major economies are staring at looming threat of recession. Although, the growth came to be a bit lower than RBI’s forecast of 16.2%, it still indicates that India has done significantly better in reviving its economy and the fiscal year target of achieving a growth of 7.2% is within reach. The growth has been driven by increase in private consumption expenditure and of gross fixed capital formation. The share of both these critical components have increased in comparison to the June quarter of previous year and this augurs quite well for the future quarters. The expected increase in private capex in the second half of year will likely make the recovery stronger and complete.”

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