India’s GDP Growth Picks Up To 7.7% In March Quarter

[ThinkLogically]

India’s economy strengthened in the January-March quarter, growing at a pace closer to potential and setting the stage for a tighter monetary policy.

GDP growth stood at 7.7 percent in the fourth quarter of 2017-18 compared with 6.1 percent in the same period last year, and a revised 7 percent in the quarter ended December 2017, according to data released by the Central Statistics Office today. A Bloomberg poll of economists had pegged GDP growth at 7.4 percent.

For the full financial year, GDP growth stood at 6.7 percent compared with 7.1 percent last year.

Gross value added growth, which strips out the impact of indirect taxes and subsidies, stood at 7.6 percent in the January-March quarter, taking the full-year growth to 6.5 percent.

Sectoral Trends

• Growth in the farm sector in March quarter stood at 4.5 percent compared with 3.1 percent during October-December 2017.
• The manufacturing sector grew at 9.1 percent versus 8.5 percent in the quarter ended December 2017.
• The construction sector grew at 11.5 percent compared with 6.6 percent in the quarter ended December 2017.
• The financing, real estate and insurance segment grew at 5 percent as against 6.9 percent in the quarter ended December 2017.
• Mining sector saw growth of 2.7 percent as against a growth of 1.4 percent in the quarter ended December 2017.
• The government spending-linked public administration segment grew at 13.3 percent versus 7.7 percent in the previous quarter.

https://www.bloombergquint.com/business/2018/05/31/indias-gdp-growth-picks-up-to-77-in-march-quarter

 

[kaykay]

Farming sector growth at 4.5%
Manufacturing sector growth at 9.1%
Construction sector growth at 11.5%
Finance, Real estate and insurance sector growth at 5%. Very encouraging figures to say the least. What say? @Nilgiri

 

[ARMalik]

India's GPD is not 7.7 rather less than 5%. India has been jacking up it GDP based on fake data it deliberately produces.

 

[xyxmt]

WOW GDP picks up just like that

 

[xyxmt]

No not like that.........with the help of Chinese investments and shifting of manufacturing of Chinese firms like Xiaomi, Huawei to name a few.

how come rupee loosing value and gdp gaining

 

[Laozi]

how come rupee loosing value and gdp gaining

FII's are net sellers and taking out dollars

Crude prices have spiked putting additional pressure on CAD and on Indian Rupee

otherwise Economy is robust and Sensex is near all time high

 

[Papa Dragon]

India's GPD is not 7.7 rather less than 5%. India has been jacking up it GDP based on fake data it deliberately produces.

Bloomberg is not headed by a maulavi sitting in a freaking madrassa

 

[kaykay]

how come rupee loosing value and gdp gaining

Well in recent months, local currencies from most countries have devalued against dollar, some more and some less. Indian rupee is at 67 against dollar now which I think is not a big issue considering It has been at 65-66 for most of this year and kinda stabilised there. In fact it has seen improvement in recent weeks.

 

[大汉奸柳传志]

finally surpassing Britain this year.. must be historical for India

 

[Nilgiri]

Farming sector growth at 4.5%
Manufacturing sector growth at 9.1%
Construction sector growth at 11.5%
Finance, Real estate and insurance sector growth at 5%. Very encouraging figures to say the least. What say? @Nilgiri

Its looking good and looks set to hit 8% finally. The NPA problem is finally showing signs of resolution thanks to IBC.

WOW GDP picks up just like that

Did you not look at the graph? It didnt pick up "just like that"....it took some time to get here from the low.

how come rupee loosing value and gdp gaining

Trade is not a very large part of Indian economy....thus the forces pushing economic growth in India come from investment and consumption largely. Besides the depreciation of Rupee is helping exporters in the long run. Rupee can stand to lose some move value (up to 75 vs USD even) if needed esp if exporters gain and make more jobs from it, the forex level is quite healthy....and credit rating is stable....inflation is well under control and the govt has kept its fiscal tightening promises largely (and been able to reduce subsidy slippage and increase capex as result, very very important).

 

[Karna_007]

India's GPD is not 7.7 rather less than 5%. India has been jacking up it GDP based on fake data it deliberately produces.

how come rupee loosing value and gdp gaining

The combined market cap of mumbai stock exchanges come to 4.5 trillion dollar

 

[xyxmt]

The combined market cap of mumbai stock exchanges come to 4.5 trillion dollar

and how that transform into 7.7% growth?
anywho, you should check this

http://www.visualcapitalist.com/20-largest-stock-exchanges-world/

Bombay 1.68 Tr, make corrections in your chest thump list

 

[ARMalik]

Bloomberg is not headed by a maulavi sitting in a freaking madrassa

No its headed by a banya .

Anyway, India is a country that cheats and produces fake data.

https://www.firstpost.com/business/...modi-is-fighting-a-trust-deficit-2876926.html
US' doubts over India’s 7.5% GDP shows Modi is fighting a trust deficit

https://www.forbes.com/sites/timwor...-not-with-demonetisation-i-dont/#14d35661715f
I Don't Believe India's 7% GDP Growth Rate - Not With Demonetisation I Don't

https://www.huffingtonpost.in/2017/...oubting-indias-latest-gdp-numbers_a_21866367/
Why Economists Are Doubting India's Latest GDP Numbers

https://qz.com/610767/indias-gdp-nu...t-its-central-bank-is-now-doing-its-own-math/
India’s GDP numbers are so dodgy that even the central bank has doubts about them


And the list goes on, and on, and on.

 

[AfrazulMandal]

How does the growth in GDP actually help the common people on the street?

 

[Karna_007]

No its headed by a banya .

Anyway, India is a country that cheats and produces fake data.

https://www.firstpost.com/business/...modi-is-fighting-a-trust-deficit-2876926.html
US' doubts over India’s 7.5% GDP shows Modi is fighting a trust deficit

https://www.forbes.com/sites/timwor...-not-with-demonetisation-i-dont/#14d35661715f
I Don't Believe India's 7% GDP Growth Rate - Not With Demonetisation I Don't

https://www.huffingtonpost.in/2017/...oubting-indias-latest-gdp-numbers_a_21866367/
Why Economists Are Doubting India's Latest GDP Numbers

https://qz.com/610767/indias-gdp-nu...t-its-central-bank-is-now-doing-its-own-math/
India’s GDP numbers are so dodgy that even the central bank has doubts about them


And the list goes on, and on, and on.

Indian economy projected to grow 7.6% in 2018-19: UN

https://www.moneycontrol.com/news/b...jected-to-grow-7-6-in-2018-19-un-2570891.html

and how that transform into 7.7% growth?
anywho, you should check this

http://www.visualcapitalist.com/20-largest-stock-exchanges-world/

Bombay 1.68 Tr, make corrections in your chest thump list

To burst your bubble, there are two stock exchanges in Mumbai and not only BSE and your post based on last year.

https://en.wikipedia.org/wiki/List_of_stock_exchanges#Major_stock_exchanges