Indian Gross Domestic Product (GDP) improved in the three months ended September recording 6.3 percent growth in the period, government data showed on Thursday. It’s a jump from the three-year low numbers from Q1 of 5.7 percent, suggesting that the impact of demonetisation and the Goods and Services Tax has started to fade.
The GDP had been sliding for the last five quarters. It was 7.5 percent in the September quarter of 2016-17. The GVA (Gross Value Added) to the economy stands at 6.1 percent up from 5.6 percent in the last quarter.
This was largely in line with what was estimated. A Bloomberg poll of 46 economists had pegged GDP growth at 6 percent. Reuters had also predicted the same figure.
GDP at 6.3 percent marks a reversal of the trend. Impact of demonetisation, GST is behind us. Hopefully, growth in coming quarters will be on upward trajectory.Arun Jaitley, Finance Minister
In July-September, auto sales, manufacturing, electricity generation grew more quickly than in the previous quarter.
The economic activities which registered growth of over 6 percent in Q2 of 2017-18 over Q2 of 2016-17 are ‘manufacturing, electricity, gas, water supply’ and ‘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 percent. Construction sector grew by 2.6 percent as compared to growth of 4.3 percent in Q2 of 2016-17.
Video Editor : Vishal Kumar
(With inputs from PTI.)
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