Based on Q3 GDP data the full year’s growth has been revised upwards to 6.6% and if this GDP growth rate is realized the size of the Indian economy is projected to grow to $2.6 trillion at the end of March
The earlier estimate was 6.5 per cent. This has forced the Statistics Office to revise its estimates of GDP growth for the full year of 2017-18 to 6.6 percent against its earlier estimates of 6.5 percent.
The higher numbers have evoked a mixed response.
Moody's Investors Service revised its global growth forecasts for 2018 and 2019, incorporating stronger than expected economic data and reflecting the likely pick up tied to additional USA fiscal stimulus.
Fuelled by increasing consumer spending and higher manufacturing, the Indian economy has overtaken China yet again to become the world's fastest growing country with GDP growth rate touching 7.2% for the October-December quarter of this fiscal year.
Similarly, real Gross value added (GVA) growth for 2017-18 were revised upwards from 6.1 per cent to 6.4 per cent.
The rise in investment demand, if it holds, is very good news, as investment in fixed assets is essential for a sustainable recovery.
The revival theme was backed up by core sector growth, which picked up pace in January following an uptick in sectors including cement, electricity, coal, refinery products and steel, indicating a strong start to the last quarter of FY18. The Chairman further asserted that the growth will pick up more in the upcoming quarter driven by the government commitment to implement structural reforms and aided by higher growth in the industrial and services sector and central government spending.
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Simply have them register their handgun with the local school resource officer who in turn forwards the info to his department. Then what? Someone gets shot because we put the gun in the classroom? "We have to minimize the vulnerability of our schools".
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Farm sector growth will likely remain subdued because of unfavourable estimates for kharif output of crops such as oilseeds, pulses, cereals and cotton, and the base effect related to record-high output in 2016-17.
Roughly 40-45 per cent of the Indian economy is accounted for by the informal sector. The twin measures had seen business and farming being impacted, especially in the informal sector. The GDP in October-December quarter of 2017-18 had grown by 5.7% in the first quarter of 2017-18 and by 6.5% in the second quarter.
A few economists also cast doubts on the data itself. CSO's projection was even lower to what analysts' predicted for India's GDP growth.
According to reports, economists widely expect India's GDP growth to accelerate further in 2018.
"This shows alarming drops in economic activity". Brokerage Nirmal Bang had forecast GVA growth for FY18 at 6.5 per cent.
16 out of the 23 industry groups in the manufacturing sector have shown positive growth during the month of December 2017 as compared to the corresponding month of the previous year.
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