GDP Preview - Q4 FY21 GDP Growth Seen At 2.1%: Nirmal Bang
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Nirmal Bang Report
India's gross domestic product in Q4 FY21 (due on May 31) is likely to register 2% growth, against our earlier estimate of 1-1.5%.
Gross value added growth is likely to come in at 3.8% against our earlier estimate of 2.4%.
The upward revision comes on the back of strong performance of the manufacturing sector (in particular the listed companies) and a rebound in government expenditure as well as tax collections in Q4 FY21.
Consequently, we are anticipating a GDP contraction of 7.3% (7.5% earlier) and GVA contraction of 6.2% (7.0% earlier) in FY21.
Our rough estimates suggest that at the peak of the lockdown in May 2021, the economy is likely functioning at ~ 60% capacity.
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