Rebound in GDP growth to continue, says Bibek Debroy

By: |
New Delhi | Published: December 1, 2017 8:30:55 PM

A day after GDP data showed Indian economy has entered the revival lane, EAC-PM Chairman Bibek Debroy said the trend will continue in coming quarters too.

Bibek Debroy, Indian economy, gdp, GDP growth, Economic Advisory Council, GDP growth, Narendra Modi government,GDP dataThe GDP growth in the second quarter of 2017-18 compares to 5.7 per cent in April-June, the lowest growth rate since the Narendra Modi government took charge, and 7.5 per cent in the September quarter of the previous fiscal. (PTI)

A day after GDP data showed Indian economy has entered the revival lane, EAC-PM Chairman Bibek Debroy said the trend will continue in coming quarters too. Reversing a five-quarter slide in GDP growth, Indian economy bounced back from a three-year low to expand by 6.3 per cent in July-September as manufacturing picked up momentum and businesses adjusted to the new GST tax regime. The GDP growth in the second quarter of 2017-18 compares to 5.7 per cent in April-June, the lowest growth rate since the Narendra Modi government took charge, and 7.5 per cent in the September quarter of the previous fiscal. The Economic Advisory Council to the Prime Minister (EAC-PM), in a statement, said Debroy is of the view that in the wake of various steps taken by the government, “this GDP growth trend will continue in future quarters also”. He added that the EAC-PM has taken several initiatives that will contribute to stable economic growth and employment.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Next Stories
1China trumps India yet again over Maldives; gains geopolitical influence with trade deal
2Indian engineers launch major road project in South Sudan
3Mukesh Ambani lists three key factors which will help India to overtake US and China