GDP Q3FY21 numbers show that there has been an expansion of 0.4% vs 3.3% YoY (Vs -7.3% QOQ) which is inline with expectations. Farm sector growth higher than expectations. Pick up in Government Expenditure in Q3. Pick up in construction activity at 6.2% is positive. Some pick up in Fin services, real estate sector is positive. Slowdown in consumption in Q3 after festive boost in Q2. Gross fixed capital formation yet to pick up. Growth estimated at -8% vs -7.7% earlier. Estimates denote higher contraction in growth. High frequency indicators suggest GDP to pick up in Q4. FY22 GDP seen in double digits partly on lower base. Watch the debate on the long road to revival ahead with Tamanna Inamdar, M Govinda Rao, Former PMEAC & DK Joshi, Chief Economist, CRISIL.
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