We see downside risks increasing for our 7% growth forecast for FY23 Says Madhavi Arora, Emkay Global Financial Services
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Below is Perspective on Q2 GDP Data for FY23 by Madhavi Arora, Lead Economist, Emkay Global Financial Services
“Q2 GDP growth expectedly slowed to 6.3% and GVA at 5.6%, led by growth in the services sector while manufacturing was a big drag. Going ahead, even as recovery in domestic economic activity is yet to become broad-based, protracted global drags, shrinking corporate profitability, demand-curbing monetary policies and diminishing global growth prospects weigh on output. This will put pressure on domestic growth, which is yet to be broad-based and still lacks the next lever of secular growth. We see downside risks increasing for our 7% growth forecast for FY23.”
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