The Indian Economy again comes up on track with it’s GDP growth rise of 7.2%, this report is coming from the Central Statistical Office for 2017-18 December quarter (Q3), growth is fastest in the last five quarters.
This is really a magical recovery if we see it from the view of our country’s economy and this happened because of the investment demand with the registration of 12% growth.
When we look at Q3 data, the growth of the complete year’s has been revised upwards with a noticeable growth of 6.6%, if this growth rate keeps running like this then it is expected that Indian economy will grow by the end of March up to $2.6 trillion, which is very massive from the perspective of Indian economy.
These positive growth changes in the economy clearly show that Indian economy is recovering from the high-value tides of demonetization and goods & services tax but now no need to worry as data of latest quarterly corporate earnings suggests that consumer demands to coming back to life.
Indian economy has to grow up to 7.1% in last quarter, to achieve the growth projection of 6.6%. In 2016-17 Indian economy had expanded by 7.1% and 8.2% in 2015-16.
According to the January projections by the CSO it is estimated that Indian economy will grow by 6.5% in 2017-18 but it’s just an estimation because it marginally comes upwards and from the data of Economic survey it is still lower than 6.75%.
Madan Sabnavis, who is the chief economist, said that “should grow to 7.5% in the year 2018-19.
To make sure that acceleration can be attributed base effect, India also cancelled down the tender of high-value note on November 2016 which leads to disruption in whole activities of the economy.
Coming to a statement by Finance Ministry, said: “the robust growth in significant acceleration in construction and manufacturing marks a great turnaround in country’s economic momentum of growth”.
We hope that by the end of a year, Indian economic growth will be fully come back to the track with its acceleration that we are seeing nowadays.