GDP recovers, grows at 6.3% in July-September quarter
GDP data: The new numbers indicate that the economy is recovering after it hit a temporary slump following last year's note ban and the rollout of GST.
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By: Express Web Desk | New Delhi | Updated: November 30, 2017 5:53 pm
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” The economic activities which registered growth of over 6.0 percent 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 growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘construction’ ‘financial, insurance, real estate and professional services’ and ‘Public administration, defence & other services’ is estimated to be 1.7 percent, 5.5 percent, 2.6 per cent, 5.7 percent and 6.0 percent respectively, during this period,” a press release by the government said.
The new numbers indicate that the economy is recovering after it hit a temporary slump following last year’s note ban and the rollout of GST.
Earlier this month, rating agency Moody’s upgraded India’s credit rating to Baa2 from Baa3 and changed its India outlook to positive from neutral. It expects the economy to grow at 6.7 per cent this fiscal and rise to 7.5 per cent in 2018-19.
Earlier today, the stock market saw a sharp slump at it has shed over 450 points. Reliance Industries, SBI and ICICI bank were some of the heavyweights who recorded loses.
Finance Minister Arun Jaitley on Thursday asserted that improved macroeconomic fundamentals have placed India on the growth trajectory and the country would have to invest heavily in infrastructure over the next two decades to graduate to a middle-income economy.
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GDP data: The new numbers indicate that the economy is recovering after it hit a temporary slump following last year's note ban and the rollout of GST.
19
SHARES
By: Express Web Desk | New Delhi | Updated: November 30, 2017 5:53 pm
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” The economic activities which registered growth of over 6.0 percent 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 growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘construction’ ‘financial, insurance, real estate and professional services’ and ‘Public administration, defence & other services’ is estimated to be 1.7 percent, 5.5 percent, 2.6 per cent, 5.7 percent and 6.0 percent respectively, during this period,” a press release by the government said.
The new numbers indicate that the economy is recovering after it hit a temporary slump following last year’s note ban and the rollout of GST.
Earlier this month, rating agency Moody’s upgraded India’s credit rating to Baa2 from Baa3 and changed its India outlook to positive from neutral. It expects the economy to grow at 6.7 per cent this fiscal and rise to 7.5 per cent in 2018-19.
Earlier today, the stock market saw a sharp slump at it has shed over 450 points. Reliance Industries, SBI and ICICI bank were some of the heavyweights who recorded loses.
Finance Minister Arun Jaitley on Thursday asserted that improved macroeconomic fundamentals have placed India on the growth trajectory and the country would have to invest heavily in infrastructure over the next two decades to graduate to a middle-income economy.
http://indianexpress.com/article/bu..._campaign=browser_push&utm_content=&utm_term=
