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

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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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