GDP growth may sink to 6.5%

This is the slowest pace of growth in the country's economy in the last four years.

"An arrogant Prime Minister Narendra Modi and a failed Finance Minister Arun Jaitley, hell bent upon ignoring economic wisdom, have dealt a catastrophic blow to India's growth story as proved by the latest GDP estimates slumping from 7.3 per cent to 6.5 per cent", he said. Given the tepid growth estimates from agriculture, it gives us a feeling that the budget 2018 will have a higher focus on agriculture and rural economy. He also indicated that the government could find it hard to achieve its fiscal deficit target of 3.2 per cent of GDP.

Commenting on the advance growth estimate released by the CSO here on Friday, NITI Aayog vice-chairman Rajiv Kumar said that the GDP growth will become more robust in 2018-19."The economic activity has been picking up over the past three quarters and can be expected to strengthen in the coming period", he said. That is a full one per cent downgrade from the FM's earlier projection of around 7.5 per cent growth this financial year.

"Advance GDP growth estimate of 6.5 per cent shows that the reform measures undertaken by the government are yielding results, because 6.5 per cent for the full year means that Q3 and Q4 numbers will be far better than first half of the year. The investment growth of nearly twice of a year ago indicates that investment is reviving", economic affairs secretary Subhash Chandra Garg said. The data also showed that manufacturing output returned to growth after a weak second quarter, although construction output contracted for the second quarter in a row.

CSO estimates suggest that in the current fiscal, the (Gross Value Added) growth in agriculture, forestry and fishing sector is set to decline to 2.1% as against the previous year's growth rate of 4.9%. Notably, the expected growth rate is lesser than last two year's GDP of 7.1 percent and 8 percent respectively.

As GST collections slipped to Rs 80,808 crore in November, down from an average of Rs 90,000 crore in the previous months, and with the government planning to borrow an additional Rs 50,000 crore via gilts, which is double the amount that was estimated by the market, the GDP growth for FY18 may range between 6% and 6.5%.

"It is heartening that gross fixed capital formation is on a recovery path, as a turnaround in investments is imperative for a sustained recovery to take hold".

Economic Affairs Secretary Subhash Chandra Garg said: "GDP growth of 6.5 per cent for 2017-18 implies growth of 7 per cent for the second half".

Recomendado:

• 

  08 Enero 2018

  Man killed in explosion at Stockholm station

  The explosion occurred late on Sunday morning at the Varby Gard station, in Stockholm's south-west. "It is too early to say". Two people were injured in an explosion outside an underground station in southern Stockholm on Sunday, authorities said.
  

  07 Enero 2018

  El enojo del técnico del PSG con Javier Pastore

  Encima, el primer compromiso del PSG será este domingo, cuando visite al Rennes por la Copa de Francia . Regla: Los comentarios son auto regulados.
  

  07 Enero 2018

  IPL 2018: 5 Retained players who would've fetched more in the auction

  Each franchise is entitled to retain up to five players, under the Player Retention and the Right to Match criteria. However, in case the team decides to pay a player more than the guidance price, the higher amount will be deducted.
• 

  08 Enero 2018

  Philippe Coutinho admits joining Barcelona 'is a dream come true'

  Starsport have compiled a list of the 10 biggest spending seasons for individual clubs in football history. He scored six goals in the last seven games of 2017 to put his side firmly in the Champions League places.
  

  07 Enero 2018

  Presidente Moreno dice que Glas cesó en sus funciones

  En su cuenta de Twitter, Moreno señaló que su decisión está amparada en el artículo 150 de la Constitución de la República del Ecuador.
  

  07 Enero 2018

  Germany one win away from Hopman Cup final vs Switzerland

  It gave Switzerland a 1-0 lead in the final, with Federer aiming to add to the title he won in Perth with Martina Hingis in 2001. With the Australian Open just over a week away, Bouchard said she didn't think her injury was serious.
• 

  08 Enero 2018

  Más de 30 desaparecidos tras choque de buques en costas chinas

  Una imagen publicada por la cadena estatal de televisión CGTN muestra grandes columnas de humo que salen del barco petrolero. Ni la tripulación ni la embarcación sufrieron daños.
  

  08 Enero 2018

  Tottenham put extraordinary price on Kane

  Spurs will welcome their London neighbours in the domestic cup competition as AFC Wimbledon get the chance to play at the home of English football.
  

  07 Enero 2018

  En Brasil declaran estado de emergencia por paro policial

  Asimismo, el documento señala que se oficializó el objetivo de adoptar medidas de emergencia para revertir la crisis causada por la paralización de policías militares y civiles.

• Ella será la nueva Sabrina en Netflix

  Todavía no se oficializó la fecha de estreno, por ende, será el mismo Netflix quien anunciará a través de sus redes sociales. Sabrina, La Bruja Adolescente fue uno de los sitcoms más populares de los 90, y tuvo siete temporadas con 163 episodios.
  

  08 Enero 2018

  Brutal cold snap stuns US East Coast after blizzard

  At 6am on Saturday, it tied with Armstrong, Ontario, as the second coldest place in the world at minus 37C (minus 34F). In New York City, according to the National Weather Bureau, temperatures should reach 4C (40F) next week.
  

  08 Enero 2018

  Kyrgios upsets Dimitrov, advances to Brisbane final

  After that, he appeared to move more freely and didn't expect it to trouble him at the Australian Open beginning January 15. Nick Kyrgios has doused any concerns of injury after claiming his maiden ATP title on home soil and first since 2016.