Q2 GDP growth rises to 6.3%
November 30, 2017  18:17
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Reversing the five quarters of slowing GDP growth, Indian economy expanded by 6.3 per cent in July-September on the back of a pick-up in manufacturing. The gross domestic product (GDP) growth had hit a three- year low of 5.7 per cent in the first quarter of 2017-18. It was 7.5 per cent in the September quarter of 2016-17.


According to Central Statistics Office (CSO) data, the economic activities that registered growth of over 6 per cent in the second quarter are manufacturing, electricity, gas, water supply, other utility services and trade, hotels, transport and communication, and services related to broadcasting. The agriculture, forestry and fishing sector is estimated to have grown by 1.7 per cent.


Addressing a press conference in New Delhi, Chief Statistician of India, Dr T C Anant, said: GDP growth recovers to 6.3% in Q2 from a 3-year low of 5.7% in Q1. After almost 5 quarters of decline, GDP marks a reversal which is very encouraging. 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.


Answering a question on how the implementation of GST has impacted the GDP, Anant said it introduced a measure of statistical challenge for us while calculating the growth rate.


Maharashtra CM Devendra Fadnavis reacted with this tweet, "A big blow to all those who were criticising #GST s historic decision! Great News that quarterly GDP growth accelerates to 6.3% against 5.7% from the previous quarter. Thanks to the continuous reforms by Hon @narendramodi ji that our Nation is conquering peaks of success!"
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