ZyFin estimates GDP growth of 4.4% for July 2013

Written By Unknown on Selasa, 17 September 2013 | 22.23

MUMBAI: The GDP growth indicator of ZyFin Research (formerly BluFin), a financial research and analytics company, has estimated the growth at 4.4% for July 2013, compared to July 2012. The corresponding GDP growth estimate for June 2013 was 2.9% indicating that growth accelerated in July 2013.

Commenting on the July GDP numbers, Surjit S Bhalla, senior advisor, ZyFin Research said, "After declining for five straight months, the month-on-month growth estimates are pointing towards a moderate improvement in growth for July 2013. However, the GDP average growth of 4.3% for the first four months of this fiscal year as estimated by ZyFin Research still suggests a struggling economy. The economy needs to accelerate to an average growth rate of 6% for the rest of the fiscal year to meet the 5.3% GDP growth estimate of the PM's economic advisory council, which appears to be difficult."

Analyzing the reasons for the jump in inflation, Debopam Chaudhuri, VP research, ZyFin Research, said: "Food inflation coupled with rising import costs had an adverse impact on overall inflation in the month of July, as indicated by ZyFin's GDP deflator growth estimate. However, with a good monsoon coupled with early indications of rapid growth in the agriculture sector, we expect inflation to remain below Reserve Bank of India's comfort level of under 5% for the WPI."


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