The expansion in GVA in the first half of the current fiscal has been estimated at 5.8 per cent, down from 7.2 per cent in the year-earlier period. But we can not 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.
According to the finance minister, India managed 7% to 8% growth at a time the world was moving slowly.
The FM further said, "the rate of growth of gross fixed capital formation has also increased from 1.6 percent in the first quarter to 4.7 percent in the second quarter".
Abdullahs slam Pervez Musharraf over remark on Hafiz Saeed
This (LeT and JuD) is the biggest force and they have been declared terrorists by India and the USA jointly", Musharraf said. Saeed, the co-founder of LeT and Jamaat-ud-Dawa (JuD) chief, was freed by a Pakistan court after 297 days of house arrest.
The country witnessed the GDP growth of 5.7 per cent in April-June quarter, the lowest growth rate since Modi took over as PM, while it was 7.5 per cent in the September quarter of the previous fiscal.
Syncing with recent Moody's upgrade of India's sovereign credit for the first time in almost 14 years, the growth buoyancy comes at a time when the Modi Government has been facing Opposition charges of wrong implementation of demonetisation and GST that disrupted the $2.4-trillion economy.
"Manufacturing growth has been one of the main reasons for the encouraging growth rate figure of 6.3 per cent for 2nd Quarter", he added.
He said, this growth happened on the back of good growth in manufacturing sector, electricity, gas, water supply and other utilities. He said the important thing to note was that growth has come due to the strong performance of the manufacturing sector.
Surprise, surprise! Security by obscurity fails Apple's MacOS
Ergin tweeted about the flaw on Tuesday, and as of the time of publication, all MacOS High Sierra machines are still vulnerable. That is the full Unix root account, which has superuser privileges that enable it to see and modify any file in any account.
"This coupled with strong fundamentals hold promise for a great future of Indian economy under the leadership of Narendra Modi".
Mining also posted a sharp uptick in growth to 5.5 per cent from a decline of 0.7 per cent in the previous quarter.
In the services sector while trade, transport did well, the government finances grew rather slowly because of a muted deposit and loan growth in the banks.
Indicating a possible cessation of the slide in India's Gross Domestic Product (GDP) seen over the last successive five quarters, government data released on Thursday, November 30, showed a growth rate of 6.3 per cent in the second quarter (July-September) of financial year 2017-18.
United Kingdom and European Union edge toward Brexit deal as Ireland is final hurdle
The paper says it would devolve a package of powers to Northern Ireland to enable customs convergence on areas like agriculture and energy.