Indian GDP growth is estimated by the economists to grow in the range of 13.1-23 percent for the first quarter (Q1) of this fiscal year.
The index of industrial production (IIP) would take into account 45 percent of manufacturing while the rest will be corporate data, he said.
Soumya Kanti Ghosh, the chief economic advisor to the SBI group, said: “Our preliminary estimates suggest that GDP growth could be in the range of 17-18 percent for Q1.”
However, he said ideally one should look at the gross value added (GVA) numbers because the GDP numbers were likely to be bolstered by strong tax collection in Q1. Net product taxes, which take out subsidies, are added to GVA to arrive at GDP.
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