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India Economy Watch - Best-Ever Real GDP Growth Of 20.1% In Q1: Motilal Oswal

India Economy Watch - Best-Ever Real GDP Growth Of 20.1% In Q1: Motilal Oswal

<div class="paragraphs"><p>The spinning department at the Hooghly Group Hukumchand Jute Mill in Halisahar, West Bengal, India. (Photographer: Arko Datto/Bloomberg)</p></div>
The spinning department at the Hooghly Group Hukumchand Jute Mill in Halisahar, West Bengal, India. (Photographer: Arko Datto/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Real gross domestic product/gross value added grew 20.1%/18.8% YoY in Q1 FY22 (versus our forecast and the Bloomberg consensus of 21%/19.6%).

The number is also marginally lower than the Reserve Bank of India forecast of 21.4% YoY for Q1 FY22.

Growth in real GDP was largely attributable to 13.8% YoY growth in consumption and 56.7% YoY growth in gross capital formation.

Within consumption, it was mainly private consumption that grew 19.3% YoY in Q1 FY22, thus contributing 10.7% to overall GDP.

Government consumption, however, contracted 4.8% YoY in Q1 FY22 (versus 12.7% YoY in Q1 FY21), leading to a negative contribution of 0.8%.

Gross capital formation contributed 14.5% to overall GDP growth in Q1 FY22.

Click on the attachment to read the full report:

Motilal Oswal Eco-GDP.pdf

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