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lakeelmoleader.com December 12, 2017


GDP recovers, grows at 6.3% in July-September quarter

01 December 2017, 06:37 | Frank Carlson

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India's economic growth may rebound as demonetisation GST impact fades

"Happy that the July-Sep quarter has registered a growth rate of 6.3%". In a series of tweets, he said: "This is a pause in the declining trend of the last five quarters". A Reuters poll of economists had predicted a growth rate of 6.4 per cent, while various other bodies projected the rate between 5.9 per cent and 7.1 per cent. But we can not say now whether this will mark an upward trend in the growth rate.

Mr Anant said, agriculture, forestry and fishing sectors are estimated to have grown by 1.7 per cent.

Addressing a press conference in New Delhi, Chief Statistician of India, Dr TCA Anant, said the recovery of GDP growth to 6.3% in Q2 from a 3-year low of 5.7% in Q1, after nearly 5 quarters of decline, "marks a reversal which is very encouraging".

"6.3 per cent is far below the promise of the Modi government and far below the potential of a well-managed Indian economy", Chidambaram tweeted.

The figure for the previous quarter, April-June, had hit a three-year low of 5.7 per cent.

As per the data, electricity and other utilities grew by 7.6 per cent (from 7 per cent in the previous quarter) and trade, transportation and communications expanded by 9.9 per cent (from 11 per cent in the previous quarter).

Warriors leading scorers Stephen Curry, Kevin Durant out tonight vs. Kings
He poured in a team-high 24 on Saturday, including 7-of-9 on 3-pointers, but missed a potential game-tying shot at the buzzer. The 33-year-old has played in 18 of Golden State's 20 games this seaosn, averaging 6.3 points-per-game.

China remained ahead of India for a third quarter in a row in July-September, posting 6.8 per cent growth.

Earlier in the day, Union Finance Minister Arun Jaitley hoped that the GDP will further improve in the coming quarters.

Moody's Investors Services recently upgraded India's sovereign rating for the first time in almost 14 years, saying the country was poised for fast growth because of wide-ranging economic and institutional reforms by Prime Minister Narendra Modi's government. To scale to 10 per cent rate is "very challenging" and it will not depend on domestic factors only but on how the world is moving, he said.

"Indias economic stress continues; GDP far below at 6.3 pc compared to 7.5 pc of Q2 of past year! - a close scrutiny reveals the real picture of the economic mess created by BJP Government", he said in a statement.

The services sector too slowed down to 7.1 per cent during the quarter.

The Finance Minister further said, "The deceleration in overall growth witnessed since the first quarter of the last fiscal has been reversed and the economy now seems to have weathered the transitional challenges experienced earlier in the year and appears poised for a durable recovery going forward".



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