GST de-stocking, costlier inputs hit growth, says TCA Anant

The first quarter GDP growth touched the lowest in 13 quarters at 5.7%

Twin factors — de-stocking before the goods and services tax (GST) implementation and a rise in wholesale inflation of inputs — pulled down economic growth during the first quarter of FY18, said Chief Statistician T C A Anant on Thursday.

The first quarter gross domestic product (GDP) growth touched the lowest in 13 quarters at 5.7 per cent, data showed.

Anant, however, did not think that demonetisation should be linked to the slowdown in growth. Referring to agriculture growth coming down, the chief statistician said while crop production rose, animal husbandry weighed on growth. 

De-accumulation of stocks by companies and traders in anticipation