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Mumbai, Aug 23 (IANS) | According to ICRA (NS: ICRA), GDP
growth is expected to grow in double digits to 13 percent in the first quarter
of FY23 due to a low base and a strong recovery in contact-intensive sectors
after extensive vaccination coverage.
ICRA expects sectoral growth in Q1 FY2023 to be driven by
the services sector (+17-19 per cent; +5.5 per cent in Q4 FY2022), followed by
industry (+9-11 per cent; +1.3 per cent).
However, GVA growth in agriculture, forestry and fishing
is projected to decelerate from 1.0 per cent in Q1 FY2023 to 4.1 per cent in Q4
FY2022, due to the adverse impact of heat wave in many parts of the country,
which suppressed wheat.
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