Wait for 3-4 quarters before concluding on growth rate: Chidambaram

I am happy that the July-Sept quarter has registered a growth rate of 6.3 per cent, he said.

Former Finance Minister P Chidambaram on Thursday said he was happy that the economy has registered a growth of 6.3 per cent in the latest quarter but still one cannot say whether this will mark an upward trend in the growth rate.

"I am happy that the July-Sept quarter has registered a growth rate of 6.3 per cent. This is a pause in the declining trend of the last five quarters.

"But we cannot say now whether this will mark an upward trend in the growth rate. We should wait for the growth rates over the next 3-4 quarters before we can reach a definite conclusion," Chidambaram said in his reaction to the latest GDP figures released by the Central Statistics Organisation (CSO).