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]
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]
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]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | Happy ending and twist in growth story

Happy ending and twist in growth story

Share this article Share this article
published Published on Jun 1, 2016   modified Modified on Jun 1, 2016
-The Telegraph

New Delhi: Official statistics suggest the juggernaut of India's economy has started to roll at a clattering pace. But some analysts stayed cautious, keeping in mind the low investment levels.

The Central Statistical Organisation (CSO) today said the gross domestic product (GDP) - the broadest measure of the economy - had grown at a robust 7.9 per cent in the fourth quarter (January-March 2016), which enabled the government to fulfil its prophecy that growth in 2015-16 would be 7.6 per cent.

This is the fastest growth rate since 2011-12, which became the base year for calculating national income statistics under a new methodology that was adopted in January last year.

India has now easily outpaced China, which grew at 6.7 per cent in the March quarter, the slowest growth that the world's second largest economy has had in seven years.

In absolute terms, India's GDP stood at Rs 113.50 lakh crore in 2015-16, against Rs 105.52 lakh crore in the year before, showing a growth of 7.6 per cent.

"The latest numbers indicate that the government's policies have started to pay off," said Shaktikanta Das, secretary in the department of economic affairs. "With a strong monsoon predicted this year, we expect growth in 2016-17 to be around 8 per cent."

The growth revival has been underpinned by the manufacturing sector that saw its growth rate vault to 9.3 per cent against 5.5 per cent last year. Overall, industry growth - represented by manufacturing, mining and construction - rose by 7.46 per cent.

Services growth slowed slightly to 8.8 per cent from 10.2 per cent a year ago but the farms reported a growth of 1.2 per cent against a contraction of 0.2 per cent a year ago.

The CSO revised the GDP growth rate for the previous quarters of 2015-16: 7.5 per cent for April-June, 7.6 per cent for July-September and 7.2 per cent for October-December.

The 7.6 per cent growth rate for 2015-16 was the same as that projected by the CSO in February this year.

A section of analysts, however, felt that the frequent data revisions and claims that the country was now the fastest growing major economy in the world should "be taken with a pinch of salt".

Please click here to read more.

The Telegraph, 31 May, 2016, http://www.telegraphindia.com/1160601/jsp/frontpage/story_88731.jsp#.V05V6iH3-ho


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close