India's GDP likely to grow 13-23% in first quarter, say economists

The IIP was up 45 per cent in the first quarter due to the 134.63 per cent rise in April owing to a low base

Economists have estimated GDP growth in the range 13.1-23 per cent for the first quarter (Q1) of this fiscal year.

The data is scheduled to be released by the end of this month. Former chief statistician Pronab Sen has projected GDP growth at 17-18 per cent. However, he said actual growth would be much lower because the quarterly numbers did not take into account the results of unlisted companies.

The index of industrial production (IIP) would take into account 45 per cent of manufacturing while the rest will be corporate data, he said.

Soumya Kanti Ghosh, chief economic advisor to the SBI group,