GET Stock QuotesNews18 APP
News18 English
»
1-min read

GDP Growth to be More Robust Next Fiscal: NITI Aayog

The Niti Aayog vice chairman pointed out that economic activity has been picking up over the last three quarters and can be expected to strengthen in the coming period with the manufacturing PMI now reading at a five-year high and FMCG demand going up.

PTI

Updated:January 5, 2018, 10:38 PM IST
facebookTwittergoogleskypewhatsapp
GDP Growth to be More Robust Next Fiscal: NITI Aayog
File photo: Niti Aaayog headquarters
New Delhi: Niti Aayog Vice Chairman Rajiv Kumar on Friday said India's economic activity has been picking up for the last three quarters and the country's GDP growth will become more robust in 2018-19.

Kumar was reacting to the growth estimates of 2017-18 released by the Central Statistics Office (CSO) today.

"The second half GDP growth in 2017-18 has risen to 7 per cent, bringing the annual growth rate to 6.5 per cent...GDP growth will become more robust in 2018-19," he said.

The Niti Aayog vice chairman pointed out that economic activity has been picking up over the last three quarters and can be expected to strengthen in the coming period with the manufacturing PMI now reading at a five-year high and FMCG demand going up.

He added that estimates assume significance in the wake of the fact that the higher second half growth has come despite a weaning of public sector expenditures which had peaked in 2016-17 on account of the implementation of the recommendations of the 7th Pay Commission.

According to CSO data, economic growth is expected to slow to a four-year low of 6.5 per cent in 2017-18, mainly due to poor performance of agriculture and manufacturing sectors.

The Gross Domestic Product (GDP) was 7.1 per cent in 2016-17 and 8 per cent in the preceding year. It was 7.5 per cent in 2014-15.

Also Watch

| Edited by: Huma Tabassum
Read full article
Most Active
Company Price Change %Gain
HUL 1,715.15 -36.10 -2.06
Reliance 1,090.00 +13.80 +1.28
Infosys 1,339.90 +7.05 +0.53
Tata Steel 523.65 +4.40 +0.85
PC Jeweller 89.80 +0.60 +0.67
Company Price Change %Gain
HUL 1,714.00 -39.85 -2.27
PC Jeweller 89.80 +0.90 +1.01
Infosys 1,340.00 +6.95 +0.52
Tata Steel 523.90 +4.60 +0.89
Ashok Leyland 128.05 +2.30 +1.83
Top Gainers
Company Price Change %Gain
HPCL 274.85 +10.50 +3.97
IOC 162.60 +5.10 +3.24
BPCL 392.30 +10.10 +2.64
GAIL 363.50 +7.70 +2.16
ICICI Bank 264.40 +5.15 +1.99
Company Price Change %Gain
ICICI Bank 264.60 +5.30 +2.04
Tata Motors 256.10 +4.55 +1.81
Sun Pharma 540.80 +7.85 +1.47
Vedanta 208.80 +3.00 +1.46
Reliance 1,089.60 +13.45 +1.25
Top Losers
Company Price Change %Gain
HUL 1,713.05 -38.20 -2.18
IndusInd Bank 1,905.00 -17.75 -0.92
HDFC 1,973.20 -18.00 -0.90
NTPC 154.30 -1.30 -0.84
Eicher Motors 27,101.00 -323.30 -1.18
Company Price Change %Gain
HUL 1,715.00 -38.85 -2.22
IndusInd Bank 1,906.80 -16.50 -0.86
NTPC 154.45 -1.25 -0.80
HDFC 1,973.20 -18.35 -0.92
Kotak Mahindra 1,400.25 -8.10 -0.58