New Delhi, Sep 11 (TIWN) India's double-digit annualised growth is impressive prima facie, but the actual print is around 2 per cent lower than market expectations and is also accompanied by weak sequential momentum, Acuite Ratings said in a report.

Acuite acknowledges growing downside risks to its existing FY23 GDP growth estimate of 7.5 per cent on account of the adverse impact of uneven distribution of rainfall on the Kharif rice crop, the expectation of a material slowdown in global demand, and the likelihood of some back-loaded expenditure rationalisation by the Central government to meet its fiscal deficit target.  A weak seasonally adjusted print coupled with a high annualised growth number underscores the role of a favorable statistical base in the headline GDP.