Economy grows 6.3% in Q2 after 15 months

Robyn Valdez
December 3, 2017

Chandrajit Banerjee, director general, CII, said, "The rebound in GDP growth to 6.3%, after the uninspiring performance of the previous quarter is noteworthy and a great confidence booster". "Demonetisation and GST's impact is behind us and hopefully, in coming quarters, we can look for an upwards trajectory".

Reiterating the structural reforms would benefit the economy in the medium and long-term, the FM, responding to questions on Q2 growth estimates, said: "The GST has made doing business and trade very easy. 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).

England to learn World Cup draw fate
Tunisia and England will meet in their opening game in Volgograd on June 18 - a repeat of the 1998 World Cup group stage, when England won 2-0 in their first match in Marseille.

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. With the January-March quarter result, India had lost its fastest growing economy to China, which grew at 6.9 per cent. Mr Anant said, the manufacturing sector in the second quarter of 2017-18 grew by 7 per cent. The finance minister said a cogent GST mechanism has been developed and no country in the world has 5 per cent tax rate. "Gross fixed capital formation has also picked up from last year's lacklustre pace", he said. "It's possible that anticipating the need for the festive season, most of the production went into the sale and inventory restocking may happen later...inventory accumulation effect may persist in the third quarter as well", he explained.

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

World Cup Draw Live in Moscow! Who's in Croatia's Group?
However, Nigeria will face Croatia in their opening match. "Anyway, we should be able to make it to the round of 16". A draw there would see the Super Eagles advance, providing Nigeria haven't slipped up before then.

Reversing a downward trend of 15 consecutive months, India's economy grew 6.3% in the second quarter (July- September) backed by an acceleration in manufacturing and mining sectors but agriculture and construction, the two largest employers, continued to disappoint.

While manufacturing grew rapidly at 7% in the September quarter from merely 1.7% in the first quarter (April-June), the growth in electricity and other utilities was recorded at 7.6% and it was nearly 10% in trade, hotel, transportation and communication. The growth in public administration, defence and other services also stood at 6 per cent.

Fallen Kingdom' Clip: Six Seconds Of Chris Pratt & Dino Baby
In the teaser, leading man Chris Pratt is seen petting and giving a good chin scratch to a baby dinosaur - velociraptor. Wong return from Jurassic World , with franchise stalwart Jeff Goldblum coming back as Ian Malcom.

Other reports by Info About Network

Discuss This Article

FOLLOW OUR NEWSPAPER