Q2 GDP growth at 6.3%, rises from 5.7% in June quarter

economy, business, India

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		The economic growth pace picked up to 6.3% in the three months ending in September, halting a five-quarter slide as businesses started to overcome teething troubles after the bumpy launch of GST.</div>
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		This is a sound acceleration from 5.7% in April-June, but still lags China&#39;s 6.8% and Philippines&#39; 6.9% for the three months through September.</div>
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		It was 7.5% in the year-ago period.</div>
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		The data will help Prime Minister Narendra Modi, who is facing criticism over the hasty July launch of GST for hitting millions of small businesses due to complex rules and technical glitches.</div>
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GDP LIVE: Growth boost has happened due to rise in manufacturing, says FM

Business Standard

GDP LIVE: Growth boost has happened due to rise in manufacturing, says FM | Economy & Policy News - Business Standard

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		Gross Domestic Product number may go up when it is finally revised: Hasmukh Adhia, Finance Secretary <a href="https://t.co/t45As7UzZ9">pic.twitter.com/t45As7UzZ9</a></p>
	&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/936226424578498561?ref_src=twsrc%5Etfw">November 30, 2017</a></blockquote>
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		Demonetisation and GST&#39;s impact is behind us and hopefully in coming quarters, we can look for an upwards trajectory: FM Arun Jaitley in Delhi <a href="https://t.co/8rnxtCFBIg">pic.twitter.com/8rnxtCFBIg</a></p>
	&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/936225025379594240?ref_src=twsrc%5Etfw">November 30, 2017</a></blockquote>
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		Last five quarters had witnessed a downward trend, GDP at 6.3% marks the reversal of that trend: FM Arun Jaitley on GDP growth figures <a href="https://t.co/RLyKL4F4tE">pic.twitter.com/RLyKL4F4tE</a></p>
	&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/936224728485838848?ref_src=twsrc%5Etfw">November 30, 2017</a></blockquote>
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		The most significant aspect is the fact that this quarter&#39;s positive result has been impacted significantly by the growth in manufacturing.: FM Arun Jaitley on GDP growth figures <a href="https://t.co/rdrFbsNBnY">pic.twitter.com/rdrFbsNBnY</a></p>
	&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/936224051256705025?ref_src=twsrc%5Etfw">November 30, 2017</a></blockquote>
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In the long-term, the revenues in a more efficient system are bound to go up: FM

We&rsquo;re hoping for higher growth rate in the coming years. Growth boost has happened due to rise in manufacturing: FM

Demonetisation and GST&#39;s impact is behind us and hopefully in coming quarters, we can look for an upwards trajectory: FM

Hopefully, we will go back to higher growth rates in coming quarters: Jaitley&nbsp;

Last five quarters had witnessed a downward trend; GDP at 6.3% marks the reversal of that trend: FM

Finance Minister Arun Jaitley addressing a press conference

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		Government&rsquo;s reforms to push economic growth are working can be seen from that manufacturing has shown robust growth of 7% in Q2 and services at 7.1%. Gross fixed capital formation has increased from 1.6% in Q1 to 4.7% in Q2.</p>
	&mdash; Arun Jaitley (@arunjaitley) <a href="https://twitter.com/arunjaitley/status/936221297297653760?ref_src=twsrc%5Etfw">November 30, 2017</a></blockquote>
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<blockquote class="twitter-tweet" data-lang="en">
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		Where are the Critics of last quarter ?<br />
		GDP growth rate during the second quarter of 2017-18 at 6.3%, up from 5.7% last quarter. <a href="https://twitter.com/hashtag/IndiaUnstoppable?src=hash&amp;ref_src=twsrc%5Etfw">#IndiaUnstoppable</a> under PM <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a> . Kudos FM <a href="https://twitter.com/arunjaitley?ref_src=twsrc%5Etfw">@arunjaitley</a> .</p>
	&mdash; Dr Jitendra Singh (@DrJitendraSingh) <a href="https://twitter.com/DrJitendraSingh/status/936211988849373184?ref_src=twsrc%5Etfw">November 30, 2017</a></blockquote>
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<a href="http://www.business-standard.com/article/economy-policy/experts-expect-gdp-growth-rebound-to-continue-in-next-quarter-as-well-117113000900_1.html?1512046662"><span style="font-size:16px;"><strong>Read experts&#39; reaction here:</strong></span></a>

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		GDP figures out. Again no growth. No jobs.Effects of note ban scam &amp; unplanned GST continue to damage economy. Only talking. No performance</p>
	&mdash; Mamata Banerjee (@MamataOfficial) <a href="https://twitter.com/MamataOfficial/status/936213316631855106?ref_src=twsrc%5Etfw">November 30, 2017</a></blockquote>
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