There is a relief news for the Modi government, who is facing criticism on the economic front. Growth rate of GDP in the second quarter of the year 2017-18 was 6.3 percent. This figure is from July to September. In the first quarter, the rate was 5.7 percent, which was the lowest level of nearly three years. This is the first picture of GDP growth rate after GST is implemented on July 1. This shows that positive results of GST have started to come and the economy can improve further in the coming days. Apart from this, it is also seen that the effect of the noteban has come to an end and companies are coming to invest, which can increase the employment in addition to development.
Chief statistician TCA Anant said that after the decline in five quarters, there is a rapid growth in GDP, which is quite positive. According to him, the highest 7 percent jump was in manufacturing. Electricity, gas and water supply grew by 7.6 percent and trade hostels, transport and communication increased 9.9 percent. He said, we hope that the issue of cell tax will not be long. However, there is a continuing decline in construction.
"Increase to 6.3 % in Q2 against 5.7% in Q1 shows a significant trend reversal in growth rates, indicating it is returning to more normal levels" - Chief Statistician TCA Anant