AMN
GDP growth rate at constant prices during the second quarter of this fiscal is estimated at six point three per cent which is up from five point seven per cent over the first quarter.
It was 7.5 per cent in the corresponding period of last year.
Releasing GDP data in New Delhi today, Chief Statistician of India T C A Anant said the GDP growth has seen a reversal trend from declining trend in the last five quarters.
India’s GDP growth surges to 6.3% in September quarter
He said, this growth happened on the back of good growth in manufacturing sector, electricity, gas, water supply and other utilities. Mr Anant said, the manufacturing sector in the second quarter of 2017-18 grew by 7 per cent.
Mr Anant said, agriculture, forestry and fishing sectors are estimated to have grown by 1.7 per cent.
Finance Minister Arun Jaitley has said, the GDP rate at 6.3 percent marks the reversal of declining trend in the last five quarters.
Briefing reporters in New Delhi today, Mr. Jaitley said, the most significant aspect is that this quarter’s positive result has been significantly impacted by the growth in manufacturing.
He said the government reforms to push economic growth are working can be seen from the robust growth of seven percent in manufacturing and 7.1 percent in services in the second quarter of this fiscal.
Meanwhile, senior Congress leader P Chidambaram said, the growth rate of 6.3 is a pause in the declining trend of the last five quarters. However, it cannot be said now whether this will mark an upward trend in the growth rate.
The former Finance Minister said, 6.3 percent rate is far below the promise of the Narendra Modi government.