Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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Uncertainty over GST and related de-stocking hit industrial sector in Q1, says Anant

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                            <div align="justify">-The Hindu Business Line<br /><br /><em>Uncertainty over GST and related de-stocking hit industrial sector in Q1, says Anant<br /><br />New Delhi: </em>Three key macro-data points released on Thursday presented a worrying picture of the economy, adding credence to the Reserve Bank of India Monetary Policy Committee&rsquo;s recent fears of slower growth.<br /><br />The keenly-awaited first-quarter GDP growth number came in at 5.7 per cent, a three-year low and far lower than the 7.9 per cent GDP growth recorded in the same quarter last fiscal and the 6.1 per cent recorded in the January-March quarter.<br /><br /><em>The key factor<br /></em><br />Briefing reporters, Chief Statistician TCA Anant said the main factor for the drop in GDP growth rate was a sharp fall in &lsquo;industry&rsquo; performance. But it would be incorrect to attribute the fall in manufacturing Gross Value Added growth to the &lsquo;demonetisation effect&rsquo;, he noted.<br /><br />According to Anant, the slump in &lsquo;manufacturing GVA&rsquo; could be attributed in large part to the apprehensions among the trading/dealer community over the impact of the July 1 GST rollout, which prompted them to go in for de-stocking of inventory in a big way in June.<br /><br />Anant said the overall GVA for the April-June 2017 quarter came at 5.6 per cent, lower than 7.6 per cent in same quarter last fiscal. The GVA growth for &lsquo;manufacturing&rsquo; came in at 1.2 per cent in the quarter, substantially lower than the 10.7 per cent growth recorded in the same quarter last fiscal.<br /><br />He pointed out that 74 per cent of manufacturing GVA was accounted for by the corporate sector. &ldquo;Corporate sector performance in GVA has been poor,&rdquo; Anant said.<br /><br />He, however, expressed confidence that &lsquo;manufacturing GVA&rsquo; will rebound in the second quarter (July-September), the first quarter period after GST. While most &lsquo;services&rsquo;-related GVA did well, the trend in construction, which dipped to 2 per cent from 3.1 per cent earlier, was disappointing, partly due to the structural constraints faced by the real estate sector during the quarter, according to Anant.<br /><br />Anis Chakravarty, Lead Economist, Deloitte in India, said the fall in GDP growth number is on account of temporary shocks in combination with an overall slowing of the economy. &ldquo;There is likely to be some bounce-back in the coming quarters as GST-related issues are resolved while the clean-up of bank balance sheets is likely to impart a downward bias,&rdquo; he said.<br /><br />Aditi Nayar, Principal Economist, ICRA Ltd, said restocking post-GST and a favourable base effect are likely to contribute to higher GDP and GVA growth in the remaining quarters.<br /><br />Nevertheless, the likelihood of growth surpassing 7 per cent for the fiscal year has diminished after today&rsquo;s readings, she said.<br /><br />The eight core industries output growth for July 2017 was disappointing at 2.4 per cent, lower than 3.1 per cent in the same month last fiscal. The core industries output for April-July grew 2.5 per cent against 6 per cent in the same period last fiscal. <br /><br />Please <a href="http://www.thehindubusinessline.com/economy/first-quarter-gdp-grew-57-per-cent-cso/article9838210.ece?homepage=true" title="http://www.thehindubusinessline.com/economy/first-quarter-gdp-grew-57-per-cent-cso/article9838210.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://www.thehindubusinessline.com/economy/first-quarter-gdp-grew-57-per-cent-cso/article9838210.ece?homepage=true" class="re" target="_blank">The Hindu Business Line, 31 August, 2017, http://www.thehindubusinessline.com/economy/first-quarter-gdp-grew-57-per-cent-cso/article9838210.ece?homepage=true</a><div class="clear"></div>
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                            <div align="justify">-The Hindu Business Line<br /><br /><em>Uncertainty over GST and related de-stocking hit industrial sector in Q1, says Anant<br /><br />New Delhi: </em>Three key macro-data points released on Thursday presented a worrying picture of the economy, adding credence to the Reserve Bank of India Monetary Policy Committee&rsquo;s recent fears of slower growth.<br /><br />The keenly-awaited first-quarter GDP growth number came in at 5.7 per cent, a three-year low and far lower than the 7.9 per cent GDP growth recorded in the same quarter last fiscal and the 6.1 per cent recorded in the January-March quarter.<br /><br /><em>The key factor<br /></em><br />Briefing reporters, Chief Statistician TCA Anant said the main factor for the drop in GDP growth rate was a sharp fall in &lsquo;industry&rsquo; performance. But it would be incorrect to attribute the fall in manufacturing Gross Value Added growth to the &lsquo;demonetisation effect&rsquo;, he noted.<br /><br />According to Anant, the slump in &lsquo;manufacturing GVA&rsquo; could be attributed in large part to the apprehensions among the trading/dealer community over the impact of the July 1 GST rollout, which prompted them to go in for de-stocking of inventory in a big way in June.<br /><br />Anant said the overall GVA for the April-June 2017 quarter came at 5.6 per cent, lower than 7.6 per cent in same quarter last fiscal. The GVA growth for &lsquo;manufacturing&rsquo; came in at 1.2 per cent in the quarter, substantially lower than the 10.7 per cent growth recorded in the same quarter last fiscal.<br /><br />He pointed out that 74 per cent of manufacturing GVA was accounted for by the corporate sector. &ldquo;Corporate sector performance in GVA has been poor,&rdquo; Anant said.<br /><br />He, however, expressed confidence that &lsquo;manufacturing GVA&rsquo; will rebound in the second quarter (July-September), the first quarter period after GST. While most &lsquo;services&rsquo;-related GVA did well, the trend in construction, which dipped to 2 per cent from 3.1 per cent earlier, was disappointing, partly due to the structural constraints faced by the real estate sector during the quarter, according to Anant.<br /><br />Anis Chakravarty, Lead Economist, Deloitte in India, said the fall in GDP growth number is on account of temporary shocks in combination with an overall slowing of the economy. &ldquo;There is likely to be some bounce-back in the coming quarters as GST-related issues are resolved while the clean-up of bank balance sheets is likely to impart a downward bias,&rdquo; he said.<br /><br />Aditi Nayar, Principal Economist, ICRA Ltd, said restocking post-GST and a favourable base effect are likely to contribute to higher GDP and GVA growth in the remaining quarters.<br /><br />Nevertheless, the likelihood of growth surpassing 7 per cent for the fiscal year has diminished after today&rsquo;s readings, she said.<br /><br />The eight core industries output growth for July 2017 was disappointing at 2.4 per cent, lower than 3.1 per cent in the same month last fiscal. The core industries output for April-July grew 2.5 per cent against 6 per cent in the same period last fiscal. <br /><br />Please <a href="http://www.thehindubusinessline.com/economy/first-quarter-gdp-grew-57-per-cent-cso/article9838210.ece?homepage=true" title="http://www.thehindubusinessline.com/economy/first-quarter-gdp-grew-57-per-cent-cso/article9838210.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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                            <div align="justify">-The Hindu Business Line<br /><br /><em>Uncertainty over GST and related de-stocking hit industrial sector in Q1, says Anant<br /><br />New Delhi: </em>Three key macro-data points released on Thursday presented a worrying picture of the economy, adding credence to the Reserve Bank of India Monetary Policy Committee&rsquo;s recent fears of slower growth.<br /><br />The keenly-awaited first-quarter GDP growth number came in at 5.7 per cent, a three-year low and far lower than the 7.9 per cent GDP growth recorded in the same quarter last fiscal and the 6.1 per cent recorded in the January-March quarter.<br /><br /><em>The key factor<br /></em><br />Briefing reporters, Chief Statistician TCA Anant said the main factor for the drop in GDP growth rate was a sharp fall in &lsquo;industry&rsquo; performance. But it would be incorrect to attribute the fall in manufacturing Gross Value Added growth to the &lsquo;demonetisation effect&rsquo;, he noted.<br /><br />According to Anant, the slump in &lsquo;manufacturing GVA&rsquo; could be attributed in large part to the apprehensions among the trading/dealer community over the impact of the July 1 GST rollout, which prompted them to go in for de-stocking of inventory in a big way in June.<br /><br />Anant said the overall GVA for the April-June 2017 quarter came at 5.6 per cent, lower than 7.6 per cent in same quarter last fiscal. The GVA growth for &lsquo;manufacturing&rsquo; came in at 1.2 per cent in the quarter, substantially lower than the 10.7 per cent growth recorded in the same quarter last fiscal.<br /><br />He pointed out that 74 per cent of manufacturing GVA was accounted for by the corporate sector. &ldquo;Corporate sector performance in GVA has been poor,&rdquo; Anant said.<br /><br />He, however, expressed confidence that &lsquo;manufacturing GVA&rsquo; will rebound in the second quarter (July-September), the first quarter period after GST. While most &lsquo;services&rsquo;-related GVA did well, the trend in construction, which dipped to 2 per cent from 3.1 per cent earlier, was disappointing, partly due to the structural constraints faced by the real estate sector during the quarter, according to Anant.<br /><br />Anis Chakravarty, Lead Economist, Deloitte in India, said the fall in GDP growth number is on account of temporary shocks in combination with an overall slowing of the economy. &ldquo;There is likely to be some bounce-back in the coming quarters as GST-related issues are resolved while the clean-up of bank balance sheets is likely to impart a downward bias,&rdquo; he said.<br /><br />Aditi Nayar, Principal Economist, ICRA Ltd, said restocking post-GST and a favourable base effect are likely to contribute to higher GDP and GVA growth in the remaining quarters.<br /><br />Nevertheless, the likelihood of growth surpassing 7 per cent for the fiscal year has diminished after today&rsquo;s readings, she said.<br /><br />The eight core industries output growth for July 2017 was disappointing at 2.4 per cent, lower than 3.1 per cent in the same month last fiscal. The core industries output for April-July grew 2.5 per cent against 6 per cent in the same period last fiscal. <br /><br />Please <a href="http://www.thehindubusinessline.com/economy/first-quarter-gdp-grew-57-per-cent-cso/article9838210.ece?homepage=true" title="http://www.thehindubusinessline.com/economy/first-quarter-gdp-grew-57-per-cent-cso/article9838210.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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Home हिन्दी

At 5.7%, Q1 GDP growth slumps to 3-year low -KR Srivats

Published on Sep 1, 2017   Modified on Sep 1, 2017

-The Hindu Business Line Uncertainty over GST and related de-stocking hit industrial sector in Q1, says Anant New Delhi: Three key macro-data points released on Thursday presented a worrying picture of the economy, adding credence to the Reserve Bank of India Monetary Policy Committee’s recent fears of slower growth. The keenly-awaited first-quarter GDP growth number came in at 5.7 per cent, a three-year low and far lower than the 7.9 per cent GDP growth recorded in the same quarter last fiscal and the 6.1 per cent recorded in the January-March quarter. The key factor Briefing reporters, Chief Statistician TCA Anant said the main factor for the drop in GDP growth rate was a sharp fall in ‘industry’ performance. But it would be incorrect to attribute the fall in manufacturing Gross Value Added growth to the ‘demonetisation effect’, he noted. According to Anant, the slump in ‘manufacturing GVA’ could be attributed in large part to the apprehensions among the trading/dealer community over the impact of the July 1 GST rollout, which prompted them to go in for de-stocking of inventory in a big way in June. Anant said the overall GVA for the April-June 2017 quarter came at 5.6 per cent, lower than 7.6 per cent in same quarter last fiscal. The GVA growth for ‘manufacturing’ came in at 1.2 per cent in the quarter, substantially lower than the 10.7 per cent growth recorded in the same quarter last fiscal. He pointed out that 74 per cent of manufacturing GVA was accounted for by the corporate sector. “Corporate sector performance in GVA has been poor,” Anant said. He, however, expressed confidence that ‘manufacturing GVA’ will rebound in the second quarter (July-September), the first quarter period after GST. While most ‘services’-related GVA did well, the trend in construction, which dipped to 2 per cent from 3.1 per cent earlier, was disappointing, partly due to the structural constraints faced by the real estate sector during the quarter, according to Anant. Anis Chakravarty, Lead Economist, Deloitte in India, said the fall in GDP growth number is on account of temporary shocks in combination with an overall slowing of the economy. “There is likely to be some bounce-back in the coming quarters as GST-related issues are resolved while the clean-up of bank balance sheets is likely to impart a downward bias,” he said. Aditi Nayar, Principal Economist, ICRA Ltd, said restocking post-GST and a favourable base effect are likely to contribute to higher GDP and GVA growth in the remaining quarters. Nevertheless, the likelihood of growth surpassing 7 per cent for the fiscal year has diminished after today’s readings, she said. The eight core industries output growth for July 2017 was disappointing at 2.4 per cent, lower than 3.1 per cent in the same month last fiscal. The core industries output for April-July grew 2.5 per cent against 6 per cent in the same period last fiscal. Please click here to read more.

The Hindu Business Line, 31 August, 2017, http://www.thehindubusinessline.com/economy/first-quarter-gdp-grew-57-per-cent-cso/article9838210.ece?homepage=true

Tagged with: GDP estimates GDP growth GDP growth rate gross value added Gross Value Added (GVA) Economic Growth

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