"All three sectors - agriculture, industry and services - have accelerated in the third quarter. "Importantly GST disruption is seen waning as borne out by manufacturing sector growth at 8.1% in October-December vs 6.2% in July-September. Construction, government services and agriculture have led the growth in the December quarter.

Broadly, the numbers are in line with our estimation for full year GDP at 6.7%. We have added the risk of a rate hike sometime between June to August 2018 following the recent monetary policy minutes, hinging on the inflation trajectory, and ...