GDP growth jumps to 6.3% in July-September period; expect upward trajectory in coming quarters, says Jaitley

Finance Secretary Hasmukh Adhia said the growth number could go up further after the real picture about the indirect taxes becomes clear.

The country’s economic growth rose to 6.3 per cent in the July-September quarter, as against dismal growth rate of 5.7 per cent in the first quarter. 
 
The growth in second quarter marked a break with declining trends for past five quarters.
 
However, India still lags behind China in the economic expansion.
 
A happy Finance Minister Arun Jaitley said that the impact of demonetisation and the GST were behind the growth. 
 
“Hopefully, growth in coming quarters will be on an upward trajectory,” he was quoted as saying.
 
Finance Secretary Hasmukh Adhia said the growth number could go up further after the real picture about the indirect taxes becomes clear.
 
He referred to TCA Anant's remarks, saying even the Chief Statistician "was not too sure" whether this is the final number.
 
As per Finance Secretary, while calculating the GDP figure this time, the indirect tax number that was taken was based on certain calculations.
 
Niti Aayog CEO Amitabh Kant said growth has returned and the Indian economy will move ahead on a higher growth trajectory. 
 
Talking to reporters on the sidelines of Global Entrepreneurship Summit (GES),he termed the Goods and Services Tax (GST) a major structural reform.
 
Kant said all sectors of the economy are bouncing back and exuded confidence that consumer demand will pick up and public sector investment will also increase.
 
Source: Media reports

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