The Indian Economy is on track!
India
to maintain a high growth rate
in
the current global environment!
The
Second Quarter Data for the GDP growth for the Financial 2018-19 has been
released & in the context the Ministry of Finance makes the Statement that,
the Second Quarter has seen a reasonable overall GDP growth of 7.1%.
The H-1 2018-19 growth of the GDP is 7.6% and
the H-1 GVA growth is 7.4%. The growth
in the Second Quarter is on higher base compared to the growth of the First
Quarter.
The
Manufacturing Growth on a base of 7.1% in Q2 2017-18 has been 7.4% in Q2
2018-19. The Construction Sector has
grown by 7.8%. The Gross Fixed Capital
Formation as a ratio of GDP has increased by almost 1.3 percentage points over
Q2 of last year. The exports for Q-2
have grown by 13.4%. The Government
consumption for the Quarter has also significantly increased by 12.7%.
This
Quarter also faced the challenge of higher oil prices resulting in much higher
import bill and the weakening of the rupee.
The Indian Economy is on track to maintain a high growth rate in the
current global environment, the Ministry concluded.
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