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India's GDP expected to grow at 22-23% in June quarter: Acuite Rating

The intensity of the second wave of Coronavirus (Covid-19) and the subsequent lockdowns across almost all states disrupted the contact intensive services again in Q1

gdp, growth, forecast, profit, economy, manufacturing

Abhijit Lele Mumbai
India's economy is expected to grow 22-23 per cent on year-on-year (Y-o-Y) in the June 2021 quarter (Q1FY22) on the back of a severe contraction a year ago, government capex and exports, according to Acuite Ratings.

A double-digit sequential contraction in Gross Value Added (GVA) and Gross Domestic Product (GDP) is also expected vis-à-vis Q4FY21, given the severe hit impact on the services sector.

Suman Chowdhury, chief analytical officer, Acuité ratings & Research, said Q1FY22 enjoys strong support from a favourable base from last year’s near-complete nationwide lockdown. It had led to a massive 24.4 per cent (YoY ) contraction

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First Published: Aug 27 2021 | 11:20 AM IST

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