India’s GDP in Q1 grows 5.7%, slowest pace in 2 years

[hussain0216]

India’s GDP in Q1 grows 5.7%, slowest pace in 2 years

TIMESOFINDIA.COM | Updated: Aug 31, 2017, 18:11 IST
HIGHLIGHTS

• India’s GDP or gross domestic product grew 5.7 per cent on a year-on-year basis during the April-June period
• During the previous quarter (January- March) the GDP had grown by 6.1 per cent
  
• The GDP growth rate for the same quarter previous year was 7.9 per cent

Representative Image
NEW DELHI: India's GDP or gross domestic product grew 5.7 per cent on a year-on-year basis during the April-June period (Q1), government data showed on Thursday. During the previous quarter (January- March) the GDP had grown by 6.1 per cent.

The GDP growth rate for the same quarter last year was 7.9 per cent.

A Reuters poll of 30 economists had predicted a 6.6 per cent growth for India's GDP in the first quarter.

The GDP growth rate has been slowing every quarter since March 2016, when it stood at a whopping 9.1 per cent.

Analysts have owed the slowing rate of growth to disruptions in the economy caused by demonetisation and teething problems after the roll out of GST (Goods and Services Tax)

Economists in the Reuters poll said uncertainty over how smoothly Goods and Services Tax (GST) will be implemented remains large and tough to forecast. It was launched on July 1 to harmonise various value-added tax regimes across states in India to one national standard.

The present rate of growth means that India is still one of the fastest growing economies in the world, although it still lags behind China which last reported a 6.9 per cent growth rate.

The PMI or Purchase Managers' Index figures for the month of August will be declared on Friday. The Reuters poll forecast PMI at 49.3 versus 47.9 in the previous month. Any number below 50 suggests contraction
http://timesofindia.indiatimes.com/...west-pace-in-2-years/articleshow/60305396.cms

 

[Resident Evil]

Its not far away from Bloomberg estimate of 6% for Q1.
Based on todays data, Bloomberg estimates GDP growth to be 6.9% for 2017-18 FY.
Not bad.

Reuters got it a bit wrong though, they estimated Q1 to be 6.5% & overall 2017-18 to be 7.4%.

 

[deep.ocean]

GST is another jumla by Modi govt after demoetization failure. Jaitly should be sacked(kicked out) for his incompetance.

 

[AndrewJin]

fake news, according to PDF RSSers, india is the biggest contributor to the world's economy.
@ashok321

 

[Resident Evil]

GST is another jumla by Modi govt after demoetization failure. Jaitly should be sacked(kicked out) for his incompetance.

While Demonetization was indeed a jumla, GST was necessary as it will without a doubt vastly increase government revenue within a year.
Worse than Jaitley as FM is Jaitley holding simultaneous charge of both MoD & MoF.

 

[jaunty]

While Demonetization was indeed a jumla

It wasn't a jumla. A jumla is something you promise to fool the masses but can't deliver like bringing back black money from abroad etc. Demonetization was a real blunder, one that's showing real negative consequences. If this was done in a country like the US, thousands of people would have sued the govt. There would be class action lawsuits galore.

 

[Kal Muah]

While Demonetization was indeed a jumla, GST was necessary as it will without a doubt vastly increase government revenue within a year.
Worse than Jaitley as FM is Jaitley holding simultaneous charge of both MoD & MoF.

It wasn't a jumla. A jumla is something you promise to fool the masses but can't deliver like bringing back black money from abroad etc. Demonetization was a real blunder, one that's showing real negative consequences. If this was done in a country like the US, thousands of people would have sued the govt. There would be class action lawsuits galore.

How is demonitisation a failure, can you explain it to me?

fake news, according to PDF RSSers, india is the biggest contributor to the world's economy.
@ashok321

View attachment 422110

its quarter not annual growth rate.

 

[John Reese]

There Four Quarters in year

Q1 Q2 Q3 Q4

All Who hate GST

TAx collection Of GST 14 Billion $ in Just 1 Month
GST collection for first month at Rs92,283 crore, exceeds estimates ...

 

[hussain0216]

Its not far away from Bloomberg estimate of 6% for Q1.
Based on todays data, Bloomberg estimates GDP growth to be 6.9% for 2017-18 FY.
Not bad.

Reuters got it a bit wrong though, they estimated Q1 to be 6.5% & overall 2017-18 to be 7.4%.

But it only grew 5.7%

 

[John Reese]

It wasn't a jumla. A jumla is something you promise to fool the masses but can't deliver like bringing back black money from abroad etc. Demonetization was a real blunder, one that's showing real negative consequences. If this was done in a country like the US, thousands of people would have sued the govt. There would be class action lawsuits galore.

LOL as Usual Unware history

Its already done in Us in 70s

But it only grew 5.7%

There Four Ouators in year
Q1 Q2 Q3 Q4

 

[ashok321]

In other words; China is the fastest growing economy in the world. India lost its "fastest economy"tag.

 

[Kal Muah]

LOL as Usual Unware history

Its already done in Us in 70s


There Four Ouators in year
Q1 Q2 Q3 Q4

Bhai half the people doesn't know here what they post. They see keywords like "slow growth" "killed" "raped" and quickly post it in here to circlejerk

 

[John Reese]

In other words; China is the fastest growing economy in the world. India lost its "fastest economy"tag.

No Its

Due you have china Q1 dat to compare then yes

But It not whole Year data

 

[Kal Muah]

No Its

Due you have china Q1 dat to compare

never quote this guy, he is a false flagger, put him on ignore list

 

[ashok321]

India 5.7
China 6.7

Now do the math.
Even Nepal exceeds India.
Lol