BQ Prime'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 BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
CareEdge Research Report
India's economy recorded growth of 13.5% in the first quarter of FY23, up from 4.1% in the last quarter of FY22. The high gross domestic product growth in Q1 FY23 can, in large part, be attributed to the favorable base. All three major sectors – agriculture, industry and services – witnessed a loss in momentum compared with the previous quarter.
When compared with the pre-pandemic period of Q1 FY20, GDP has recorded a modest growth of 3.8%. The GDP growth in Q1 was lower than our expectation mainly because of lower than expected growth in manufacturing, construction, trade, hotels and transport related sectors.
The GDP growth was also lower than Reserve Bank of India's estimate of 16.2% for Q1 FY23.
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