GDP growth improves to 6.3 % in July-Sept quarter

RSTV Bureau

Reversing the five quarters of slowing GDP growth, Indian economy expanded by 6.3 percent in July-September on the back of a pick-up in manufacturing.

“Increase to 6.3 % in Q2 against 5.7% in Q1 shows a significant trend reversal in growth rates, indicating it is returning to more normal levels” Chief Statistician TCA Anant said.

Dr.T.C.A.Anant

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