Blog

GDP growth rate rises after falling for 5 quarters

get link Breaking a five-quarter slump, a rise in the manufacturing sector’s output pushed India’s growth rate higher to 6.3 per cent during the second quarter of 2017-18, official data showed on Thursday. On a sequential basis, India’s GDP growth for Q2 of the current fiscal went up to 6.3 per cent, from 5.7 per cent reported during the first quarter of 2017-18.

follow site According to data from the Central Statistics Office (CSO), the GDP for Q2 stood at Rs 31.66 lakh crore, or a growth of 6.3 per cent. “The economic activities which registered growth of over 6 per cent in Q2 of 2017-18 over Q2 of 2016-17 are ‘manufacturing’, ‘electricity, gas, water supply & other utility services’ and ‘trade, hotels, transport & communication and services related to broadcasting’,” the document on the estimates of GDP for the Q2 of 2017-18 said.

“The growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘construction’, ‘financial, insurance, real estate and professional services’ and ‘public administration, defence and other services’ is estimated to be 1.7 per cent, 5.5 per cent, 2.6 per cent, 5.7 per cent and 6 per cent respectively, during this period,” the data said.

go here Wait another 3-4 quarters, says Chidambaram

Former Finance Minister P Chidambaram on Thursday said he was happy that the economy has registered a growth of 6.3 per cent in the latest quarter but still one cannot say whether this will mark an upward trend in the growth rate.

“I am happy that the July-Sept quarter has registered a growth rate of 6.3 per cent. This is a pause in the declining trend of the last five quarters.

“But we cannot say now whether this will mark an upward trend in the growth rate. We should wait for the growth rates over the next 3-4 quarters before we can reach a definite conclusion,” Chidambaram said in his reaction to the latest GDP figures released by the Central Statistics Organisation (CSO).


TwitterLok

 

(Reproduced tweets do not reflect Lokmarg editorial policy)


(IANS)

//

Shares

Leave a Reply

Be the First to Comment!

Notify of
avatar