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GST's impact after note ban Arun Jaitley at GDP growth rate

GST's impact after note ban  Arun Jaitley at GDP growth rate  

New Delhi: Finance Minister Arun Jaitley on Thursday said that an increase in the second quarter GDP data indicated that the impact of monarchy and GST is behind us. He said that in the coming quarters one can be expected in the upper direction. . "

He also said that manufacturing sector is primarily the reason behind this development and this movement should be in the third and fourth quarter.

India's Gross Domestic Product (GDP) for the second quarter of the current fiscal (July-September) grew by 6.3 per cent, official data said on Thursday. The latest figures continue because of enthusiasm because the country's GDP was slipping for the last five quarters. The growth rate in the previous quarter (April-June) was 5.7%, which was less than three years. Gross domestic product growth was 7.5 percent in the same quarter last year.

In the reporting quarter, GVA (Gross Value Added) grew by 6.1 percent in the economy, which was 5.6 percent in the previous quarter.

The growth rate was expected to grow wider as the dynamic and GST rollout had clear signs of the business coming out of recession. A Reuters survey of economists predicted a growth rate of 6.4 percent, while other institutions had estimated between 5.9 percent and 7.1 percent.
Mining mainly came behind the mining and manufacturing sector. The mining industry increased from negative growth of 0.7 percent in the last quarter to 5.5 percent in the quarter. Similarly, manufacturing sector rose from 1.2 percent to 7 percent. However, agriculture, financing and real estate and some areas like transport and hotels have slowed down.

After the data was announced, Tushar Arora, HDFC Bank Senior Economist, said, "The GDP numbers are in line with our expectations." The results of the emerging corporate income have been reflected in the manufacturing sector. As the revival continues, (GDP) unchanged forecast at 6.5 percent. "

Reserve Bank of India (RBI) governor Urjit Patel had said last month that signs of a change were visible and development was likely to reach 7 percent.

Other indicators like passenger vehicles and tractor sales, industrial production, power generation and rail cargo are all in all speeds in the past few months. Large companies have adjusted the changes on a large scale, benefiting from low logistics costs. According to Thomson Reuters data, the major Indian companies' profits have been the best in the last six quarters in July-September. According to the data, the total profits of Indian companies are likely to increase by 25% in the next financial year, which will be the highest in Asia.

The latest numbers on development for the second quarter indicate that the level of activity is recovering from the hindrance in the first quarter. Broadly, according to number expectations and second half. There is hope to see another improvement from these levels from the current year. "

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