India's GDP estimated to grow at 6.5%, that's a four-year low

Government estimates lower GDP for 2018-18 at 6.5

Government estimates lower GDP for 2018-18 at 6.5

The lower demand has dented manufacturing that will grow 4.6% this year against 7.9% last year.

In its first advance estimate for the full financial year, the Central Statistics Office estimated India's real GDP at constant prices (2011-12) in the year 2017-18 to be Rs 129.85 lakh crore, as against the Provisional Estimate of GDP for the year 2016-17 of Rs 121.90 lakh crore.

The Government on Friday said that the country's economy is poised to grow at 6.5 per cent in the current fiscal year -2017-18.

"Real GVA, i.e, GVA at basic constant prices (2011-12) is anticipated to increase from '111.85 lakh crore in 2016-17 to '118.71 lakh crore in 2017-18".

Amazon Reportedly Planning To Bid For English Premier League Streaming Rights
In April, Amazon acquired the streaming rights to ten NFL Thursday Night Football games. Amazon is getting serious about streaming the world's best soccer matches .

Manufacturing, which accounts for around 18 per cent of the gross value added, is forecast to grow at 4.6 per cent this financial year, compared with 7.9 per cent growth in the previous year.

Former Planning Commission Deputy Chairman Montek Singh Ahluwalia said the GDP growth would be around 6.2 per cent to 6.3 per cent for the current fiscal. Per capita income to fall too India's per capita income, a gauge for measuring living standard, is likely to witness a slower growth of 8.3 per cent at Rs 1,11,782 in FY 2017-18.

Here's how the GDP performed in the first half of FY18.

"It is hard for GDP to cross 7 per cent this fiscal unless the base is revised downwards". In the first half, GDP growth was only 6% because of the disruption caused by the goods and services tax (GST) and the lingering impact of demonetisation.

United States suspending most aid to Pakistan as it fails to curb terrorism
Pakistan , which serves as a key transport route for supplies to USA forces in Afghanistan, denies harboring terrorists. In August, he was more forthright and warned that Pakistan "has much to lose" if ig persisted in aiding terrorists.

Worldwide rating agency Standard and Poor's had kept the growth outlook for India "stable" and rated the world's third-largest economy 'BBB-' in its latest report in November.

"The advance estimates for the full year have been based on limited data, which would be available for a period of 6-9 months for different sectors".

Analysts will also keenly examine the data used for calculating the advance GDP estimates. The CSO could actually estimate a faster GVA expansion in the final two quarters, implying but for slower-than-expected GST tax revenue collections, overall growth could have been faster.

Reacting to the numbers, analysts said they expect GDP growth for the fiscal to go above the 6.5 per cent-mark due to a favourable base effect. "And as the estimates are missing the RBI expectations, the central bank is likely to pause in its next policy meeting in February 2018".

Things get hairy in scrap between Nazem Kadri and Joe Thornton
As Thornton was in the penalty box following the fight, the beard trimming eventually ended up on the Sharks' bench. Unfortunately for Thornton, who sports a very glorious beard, his facial hair got in the way of Kadri's grip.

"As such, for a broad based recovery the rural economy needs to recover and we can expect the upcoming budget to focus on alleviating some of the stress in the rural economy and concentrating on measures to augment the flow of credit in the economy", said Chakravarty.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.