Narendra Modi Effect : GDP growth jumps to 6.3 per cent in Q2
India’s GDP (Gross Domestic Product) growth rate for the second quarter (July-September) of the current fiscal stood at 6.3 per cent, government data showed on Thursday.
The latest figures bring forth reasons for cheer as the country’s GDP had been sliding for the last five quarters. The previous quarter’s (April- June) growth rate at 5.7 per cent was at a three-year low. The GDP growth for the corresponding quarter last year stood at 7.5 per cent.
Government’s reforms to push economic growth are working can be seen from that manufacturing has shown robust growth of 7% in Q2 and services at 7.1%. Gross fixed capital formation has increased from 1.6% in Q1 to 4.7% in Q2.
— Arun Jaitley (@arunjaitley) November 30, 2017
The surge came mainly on the back of mining and manufacturing sectors. The mining industry jumped from a negative growth of 0.7 per cent in last quarter to 5.5 per cent this quarter.
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