Published: Mon, June 04, 2018
Global Media | By Jackie Banks

March quarter GDP growth fastest in 2 years; Dalal Street cheers

March quarter GDP growth fastest in 2 years; Dalal Street cheers

At the sectoral level, the growth rate of GVA at constant (2011-12) prices in Q4 of 2017-18 for agriculture & allied sectors, industry and services sectors are estimated at 4.5 per cent, 8.8 per cent, and 7.7 per cent respectively.

For the financial year ended on March 31, the growth rate was pegged at 6.7 per cent, down from 7.1 per cent for a year earlier.

The farm sector also grew at a healthy rate of 4.5 per cent, while construction activity, powered by government investments in the highways sector, clocked a double digit growth of 11.5 per cent to give a fillip to the economy.

The economy seems to be coming back on track with an impressive 7.7% growth in the March quarter, experts said on Thursday, expecting the trend to improve further in the current fiscal. In 2019-20, it has projected the growth rate to be higher at 7.5 per cent.

The data may offer a boost to Prime Minister Narendra Modi, who is set to seek a second term next year.

The "agriculture, forestry and fishing" sector showed a growth rate of 3.4 per cent as against the previous year's growth rate of 6.3 per cent, while the growth in the "manufacturing" sector was estimated at 5.7 per cent as against the previous year's growth rate of 7.9 per cent. His government launched a nationwide goods and services tax (GST) but its introduction was botched, almost scuttling India's growth prospects in the near term.

Justice Obstructed? Trump, Sessions & the Federal Bureau of Investigation
Justice Department officials had concluded the policy must be withdrawn and revised, a move that Mr. Trey Gowdy (R-S.C.) sympathizing with the president over his ongoing frustrations with Sessions.

Kanye West releases highly-anticipated album ye
She wants to make it clear that " Kanye West did not purchase the picture from me or my son [Shayne Brown]". Kid Cudi , Ty Dolla $ign, and Nicki Minaj appear on the seven-track release.

Stephen Curry edges LeBron James for 2nd most playoff 3-pointers
Houston's third quarter performance undid all of its hard work , but it proved that breaking down the Warriors isn't impossible. He had been taking antibiotics and using drops after being poked in the eye by Draymond Green in the first half Thursday.

Mining and quarrying did not perform well in January-March as GVA of the segment grew at 2.7 per cent in the fourth quarter, down from 18.8 per cent in the year-ago period.

Domestic prices of petrol and diesel are near all-time highs, putting pressure on the government to bring down taxes on the fuels.

The almost $1.7 trillion formal banking sector, which is coping with non-performing assets (NPAs) and emergence of fraud scandals, is worry point in the economy. However, we expect tighter financing conditions, rising oil prices and slower investments in the run-up to elections to slow GDP growth later in the year.

Growth in Asia's third-largest economy, reported by the ministry, trumped forecasts in a Reuters poll of annual growth at 7.3 percent.

He, however, agreed that the recent increase in global oil prices will have certain implications, adding that the downward revision by Moody's was also due to the rising oil prices.

Monsoon rains hit the southern Indian state of Kerala on Tuesday, a few days earlier than normal, the country's weather office said, a development that potentially brightens the outlook for agricultural output and the economy.

Like this: