GDP growth rate seen below 5% in December quarter on a normalising base

FY23 quarterly, annual estimates may be revised on Tuesday

Asit Ranjan Mishra
Economic growth, GDP

India’s economic growth may show lower than 5 per cent print in the December quarter of fiscal year 2022-23 (FY23) on a normalising base even though many high frequency indicators signal a sequential improvement in performance.
During the third quarter of FY22, the economy grew at 5.4 per cent. In the preceding September quarter of FY23, gross domestic product (GDP) recorded 6.3 per cent growth.
A survey of 41 professional forecasters by the Reserve Bank of India (RBI) earlier this month pegged median GDP growth at 4.6 per cent for Q3 within a wide range of 4 per cent and 6.9 per cent. However, the RBI itself has projected December quarter GDP growth at 4.4 per cent. What could upend forecasts, though, is that the National Statistical Office will revise GDP data of the past years on Tuesday along with the second Advance Estimates for FY23. As the base year numbers of FY22 change, quarterly as well as annual growth esti

Also Read

Robust activity in services sector holds up 6.3% GDP growth in Q2

GDP growth may have beaten MPC's estimate of 6.3% in Q2: Economists

RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8%

RBI MPC: Here is what experts have to say about the policy announcement

India will not miss estimated 11.1% FY23 nominal GDP growth: Bibek Debroy

India offers many tailwind opportunities in various sectors: McKinsey India

Chintan shivir on drugs to diagnose and treat issues of trust, quality

K'taka govt employees' union demands 7th Pay Commission, threatens strike

Uncertain future for EV dealers as manufacturers face subsidy halt

Digital economy can contribute 25% GDP, reach $7 trn by FY29: K V Kamath

First Published: Feb 26 2023 | 7:10 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to