Thursday, December 14, 2017
ABOUT US CONTACT US ADVERTISE WITH US FOLLOW US ON    
 
Kashmir Times Logo www.kashmirtimes.com
Business
India's Q2 economic growth picks up to 6.3%, breaks 5-quarter slide
ActIT Jammu, ASP.net Projects, Java, Vb.net, C# Training Jammu
NEW DELHI, Nov 30 (Agencies): India's economic growth pace picked up to 6.3 percent in the three months ending in September, halting a five-quarter slide as businesses started to overcome teething troubles after the bumpy launch of a Goods and Services Tax (GST).

Gross domestic product grew 6.3 percent in July-September, its fastest pace in three quarters, the data showed.

Growth had slid to a three-year low of 5.7 percent for the three months to June on the spillover effects of the note ban and the GST implementation.

In July-September, auto sales, manufacturing, electricity generation grew more quickly than in the previous quarter.

On November 17, Moody's upgraded India`s sovereign credit rating for the first time in nearly 14 years, saying continued progress on economic and institutional reforms would boost its growth potential.

It expects the economy to grow 6.7 percent in the fiscal year ending March 31, and 7.5 percent the following year.

Modi government hopes the ratings upgrade can attract more foreign investors, who pumped USD 15 billion into Indian equities in July-September, up 44 percent from the previous quarter. The main NSE share index is up 27 percent in 2017.

Still, the world`s seventh largest economy, which grew at more than 9 percent a year from 2005 through 2008 is far from firing on all cylinders. Domestic demand and private investments remain weak.

After front-loading state spending in the fiscal year`s first half, Finance Minister Arun Jaitley has limited room to spend amid slowing revenue growth.

Finance Ministry officials hope the central bank will cut interest rates soon, but analysts say that rising global oil prices, which could pinch consumers through higher inflation, may instead force the RBI to hike in the second half of 2018, denting growth momentum.


News Updated at : Friday, December 1, 2017
 
Comment on this Story 

 
 
Top Stories of the Day  
Mehbooba pays surprise visit to SMGS hospital
JAMMU, Nov 30: Dismayed over the poor sanitation in the SMGS hospital during her surprise visit on Thursday, the Chief Minister Mehbooba Mufti on spot ordered the attachment of medical Superintendent. The Chief Minister’s office had been getting reports of poor sanitation and facilities in the hospital over the past few months. Mehbooba, during surprise visit to the SMGS hospital here today, personally took stock of the sanitation, medical facilities and availability of medicine to the pati
> Govt extends gratuity benefit to NPS employees
> Is govt’s CEA also stupid for sharing Cong view, Chidambaram asks PM
> GDP growth surge vindicates PM’s vision: Dy CM
> 2 youths attempt to commit suicide at Gool
> MHA issues advisory to take strict action against miscreants
 
 
Other Stories from Web  
 
 
 
Find us on
 
 
Weather Report
 
Shridev Sharma
 
Mata Vaishnodevi | Matavaishnodevi | Mata Vaishno Devi
 
Electric Blanket | Electric Bed Warmers | Electric Under Blankets | Electric Heating Blanket
 
 
 
Web Design Jammu, Web Design Company, Ideogram Jammu
 
 
Home | Contact Us | Kashmir Times | Kashmir Times E-Paper - Jammu | Kashmir Times E-Paper - Srinagar | Dainik Kashmir Times | Jammu Prabhat
Copyright 2013 Kashmir Times Group. All rights reserved. Powered by Ideogram Technology Solutions Pvt. Ltd.