GDP turns around, leaps to 6.3% in Sep quarter

01 Декабря, 2017, 06:35 | Author: Lester Mason
  • GST made doing business easier for traders Jaitley

The growth in the agriculture slowed to 1.7% compared to 2.3% in the last quarter and 4.1% in the same quarter past year. After the five quarters of growth decline, "we see reversal of GDP in the second quarter".

With the sign of growth trajectory, Finance Minister Arun Jaitley remained optimistic of a higher growth rate in coming quarters.

The GDP had fallen to a three-year low of 5.7 per cent in the previous quarter (April to June 2017-18).

The GDP is the monetary value of all the finished goods and services produced within a country's borders in a specific time period. The rate of growth of gross fixed capital formation increased from 1.6 per cent in the first quarter to 4.7 per cent in the second quarter.

"In a normal year, businesses are conversant with the tax processes, and so know their tax liability, so the collections are usually in line with what is anticipated", TCA Anant, Chief Statistician of India and Secretary to the Ministry of Statistics and Programme Implementation, said on Thursday. Mr Anant said, the manufacturing sector in the second quarter of 2017-18 grew by 7 per cent. "But we can not say now whether this will mark an upward trend in the growth rate", Chidambaram added.

"The Q2 growth pick up is nearly entirely due to the growth pick up in manufacturing, which came to a standstill prior to GST due to destocking", D.K. Srivastava, Chief Policy Advisor at EY India, said.

Читайте также: 180 people file sexual assault lawsuits against Massage Envy

"Traditionally, July-September is a quarter where a lot of production takes place to cater to festive demand".

"India's rise in World Bank's Ease of Doing Business rankings, upgrade by Moody's, praise by Standard & Poor's and the strong growth in Q2 show that India's rise is inevitable", he said, adding that Modi government's efforts are ensuring better prospects for every Indian.

"Manufacturing growth has been one of the main reasons for the encouraging growth rate figure of 6.3 per cent for 2nd Quarter", he added.

"Manufacturing reported growth of 7 per cent, electricity, gas and water supply at 7.6 per cent, and trade, hotels, transport and communication grew at 9.9 per cent", he said.

GDP growth in the first half of the fiscal stood at 6 per cent versus 7.7 per cent in H1 a year ago.

The agriculture, forestry and fishing sector is estimated to have grown by 1.7 per cent. Great news that quarterly GDP growth accelerates to 6.3 per cent against 5.7 per cent from the previous quarter.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2017 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог

Recommended:



Popular

UFC superstar Conor McGregor laughs off reports of death threats
Judge Walsh said: "If he wants to argue that case, he can come to this court himself with a proper legal representative". McGregor entered into a guilty plea, agreeing to pay the amount specified by the fine.

BMW i8 Roadster revealed as its most gorgeous hybrid yet
Efficiency improvements in the batteries also liberate an extra 12bhp from the electric motor , which powers the front wheels. The Roadster's soft-top is all-electric and opens in 15 seconds at a button's push while traveling up to 31 miles per hour .

Convicted War Criminal Swallows Fatal Poison in Court After Verdict
Officials said he was "receiving medical treatment" but Croatian state TV later reported that Praljak had died. Wednesday's hearing was the final case at the groundbreaking tribunal before it closes its doors next month.

Melania Trump never wanted to be First Lady, report says
She is the one who pushed him to run just by saying run or do not run [but] I don't think she was ever too insane about it". No? Well, apparently that's exactly what a certain person in the White House envisions.

Cyber Monday 2017 sets new record at $6.59 billion, data shows
The company acknowledged that processing was taking longer than usual in its stores and said it was working on the problem. Predictions are that overall online holiday sales will reach $107 billion, rising more than 13% from past year .

Meghan Markle has met Prince George and Princess Charlotte at Kensington Palace
Officials also confirmed that Markle will be baptized and confirmed in the Church of England at some point before the wedding. Though William and Kate were married in Westminster Abbey in 2011 and Prince Charles and Princess Diana were married at St.

Former 'Glee' Star Naya Rivera Arrested for Domestic Battery
Naya Rivera is facing a domestic battery charge after allegedly attacking her husband, Ryan Dorsey , in West Virginia. Sean had something to say about her arrest on Twitter , posting a video that said "I told you so", multiple times.

Sacramento Kings at Golden State Warriors game 20
Head coach Steve Kerr has said, in retrospect, the Warriors probably shouldn't have let Durant play against his former team. Durant will not play for the third consecutive game, and the fourth time in Golden State's past five games.

In the region: Radford to visit Wichita State for NCAA volleyball tourney
The team who wins will play on Saturday against the victor of the No. 9 seed Creighton and Coastal Carolina match. The match will mark the first meeting between WKU and Notre Dame and is the Fighting Irish's 19th NCAA appearance.

Vladimir Putin Signs Bill Targeting International Media Outlets
Russia's anti-media law is not the first time this month the country has painted groups as so-called foreign agents. It also forces news platforms like Reuters to provide the Russian government with funding sources.

Tendencies