India's Gross Domestic Product (GDP) slipped to 5.7 percent, a 3-year low, in the first quarter of Financial Year 2017-18. NDA Government received severe criticism for leading to the slump in economy with Demonetisation & Goods & Services Tax.
In the second quarter, that ended with September, of the ongoing financial year, Indian GDP jumped up to 6.3 percent. The economy showed an upward trend after almost five quarters of continuous decline.
Manufacturing Sector boosted the growth of GST with an increase of 7 percent. Whereas, Agriculture Sector managed a growth of 1.7 percent, much lower than 4.1 percent in first quarter.
Economists see the growth in GDP as a very positive sign. They expect the economy to grow at a fast rate in the coming quarters. Rapid growth could be seen in Sectors such as construction, cement and commercial vehicles in the coming months.
In the second quarter, that ended with September, of the ongoing financial year, Indian GDP jumped up to 6.3 percent. The economy showed an upward trend after almost five quarters of continuous decline.
Manufacturing Sector boosted the growth of GST with an increase of 7 percent. Whereas, Agriculture Sector managed a growth of 1.7 percent, much lower than 4.1 percent in first quarter.
Economists see the growth in GDP as a very positive sign. They expect the economy to grow at a fast rate in the coming quarters. Rapid growth could be seen in Sectors such as construction, cement and commercial vehicles in the coming months.