According to Assocham's Secretary General D.S. Rawat, the 6.3 per cent growth in the GDP for the second quarter has come "as a big relief to India Inc, in the backdrop of quite subdued performance of the previous quarter". The country's fiscal deficit crossed 96 per cent of Budget estimates at October-end. Jaitley said the Goods and Services Tax (GST) started with different tax rates and they have rationalised rates on many items.
"It is well accepted that investment in infrastructure is essential to growth, it increases the productivity of existing resources and crowds in private investment, which in turn creates more jobs and leads to economic well-being", he said.
Moody's Investors Services recently upgraded India's sovereign rating for the first time in almost 14 years, saying the country was poised for fast growth because of wide-ranging economic and institutional reforms by Prime Minister Narendra Modi's government. On the other hand, Moody's predicts that India would be the world's seventh-largest economy to grow at 6.7 per cent in 2017-18 and at 7.5 per cent in the next fiscal. "After nearly 5 quarters of decline, GDP marks a reversal which is very encouraging", Chief Statistician of India TCA Anant said in a press conference in New Delhi. Mr Anant said, the manufacturing sector in the second quarter of 2017-18 grew by 7 per cent.
"The September quarter GDP growth, he added, is quite a significant trend reversal and has been driven by pick-up in manufacturing". Since May 2014, out of the 13 quarters, we have clocked upwards 7 per cent eight times, and we fell below 6 per cent only once in the last quarter.
Former finance minister P Chidambaram, however, said 6.3% growth was "far below the promise of Modi government and potential of the well managed Indian economy".
Reversing a five-quarter slide in Gross Domestic Product (GDP) growth, the economy bounced back from a three-year low to expand by 6.3% in July-September as manufacturing revved up and businesses adjusted to the new GST tax regime.
The agriculture, forestry and fishing sector is estimated to have grown by 1.7 per cent.
"Traditionally, July-September is a quarter where a lot of production takes place to cater to festive demand".
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.
Neither Mr Trump nor Mr Pence indicated concern then that the Federal Bureau of Investigation had not been told the true story. Trump said in a tweet , his second comment of the day of the explosive turn of events in the Russian Federation probe.
Peshawar , close to the Afghan border, has seen some of the worst violence during the Taliban insurgency in recent years. The area where the incident occurred is a hub for educational institutions including the University of Peshawar .
Coach Gernot Rohr said what last month's win over Argentina has shown is that anything is possible with his young team. In the draw held for the 32 competing nations in Moscow today, Nigeria and Argentina were drawn together in Group D .
Pochettino's side fell behind to an early Christian Kabasele header. "We were disappointed after Leicester". It is good for the group to try and learn. "It was a big blow psychologically to be 2-0 down at the start".
But the Prime Minister's Office saw fit to put out the short clip relating to Iranian presence in Syria on Saturday evening. The BBC reported last month that Iran was building a permanent military base near the town.
Mueller's charging documents state bluntly that Flynn interfered with the FBI's inquiry into Trump-Russia collusion. We'll review everything.' I never said anything such as, 'We're going to review sanctions, ' or anything like that".
The covers were then pulled off a showcar, revealing a red and white livery, with a large Alfa Romeo logo on the engine cover. The deal is understood to include an agreement for it to take at least one of Ferrari's young drivers next season.
Trump lights National Christmas Tree
Trump has repeatedly taken shots at Obama for not wishing the country a "Merry Christmas", both before and after he took office. First Lady Melania Trump proudly showed off DC's newest winter wonderland to children from Joint Base Andrews Monday.