India Economy Watch - Expect Real GVA/GDP To Grow Around 24% YoY In Q1: Motilal Oswal
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Motilal Oswal Report
Slightly lower than our forecast of 3.9% YoY, but higher than Bloomberg consensus of 2.6% YoY, real gross value added came in at 3.7% YoY in Q4 FY21.
This implies that real GVA declined 6.2% YoY in FY21 as against a growth of 4.1% YoY in FY20.
Real gross domestic product came in at 1.6% YoY in Q4 FY21, better than our forecast/Bloomberg consensus of 0.6%/1%.
Real GDP, therefore, fell 7.3% YoY in FY21 versus a growth of 4% YoY in FY20.
While industrial activity grew at an 11-quarter high in Q4 FY21, the services sector grew 1.5% YoY.
Within industry, while manufacturing, construction, and power generation did well, mining and quarrying performed worse in Q4 FY21.
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