India GDP numbers today: Heres what to expect
India GDP numbers today: Heres what to expect
Indian economy is likely to post healthy GDP (Gross Domestic Product) numbers for the quarter ended March 31, 2017 when they are released later today.
Analysts expect that the new IIP and WPI series will push up GDP numbers as the base year now stands at 2011-12 instead of 2004-05. Moody's Investors Services, in a note said that it expects Indian economy to grow at 7.5% in FY17 and 7.7% in FY18.
It said that Indian economy will gradually accelerate to around 8% over the next three to four years.
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Key things to watch out:
IIP:
India's factory ouutput or IIP grew 2.7% in March 2017 as against a drop of 1.2% in February 2017. Manufacturing output in the given month rose 1.2% and electricity production grew 6.2%.
Wholesale inflation:
Wholesale inflation of WPI has been 4.3% in January 2017 followed by 5.5% and 5.3% in February and March 2017.
Revision:
The new IIP and WPI series would mean that Indian economy's past performance is also likely to get a boost.
Soumya Kanti Ghosh of SBI Research said, "We expect FY14 GDP growth to be revised from 6.5% to 7.3% while FY16 GDP is expected to be revised from 7.9% to 8.3% because of the new IIP and GDP series. FY17 GDP growth is expected to be revised from 7.1% to 7.6%."
He said, "We also expect 7.2% GDP (GVA: 6.8%) growth for Q4 FY17 and also upward revision in all the preceding three quarters."
Government statistics department CSO will release GDP numbers at 5.30 pm on May 31, 2017
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