Has India overcome demo, GST combine; heres what the data shows
Going by the data, India’s Gross Domestic Product (GDP) grew 6.3 percent in second quarter obviously overcoming the adverse impact of demonetization and Goods and Services Tax.
It is being seen as reversal of the decline in the country’s economic growth in the quarter ended September.
A survey saw GDP growth for the July-September quarter is likely to be 6.5 per cent.
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.
Eight core sectors grew by 4.7 per cent in October, driven by higher refinery production, government data showed on Thursday.
The growth in output compares with a downwardly revised 4.7% year-on-year growth in September.>