This is the amazing responses from various leaders of India, as India’s growth made an impressive comeback in the second quarter of the fiscal year 2017-2018 at 6.3% after hitting a three-year low of 5.7% in the previous quarter.
Congress leader P Chidambaram welcomed the rise in India’s GDP growth rate. Meanwhile, West Bengal Chief Minister Mamata Banerjee launched a scathing attack on the government, saying it was “only talking, no performance”.
Amitabh Kant, NITI Aayog CEO
Certain that India is on a high growth trajectory in the long term; the great thing about FY18 Q2. GDP is manufacturing has taken a big jump.
Anis Chakravarty, Lead Economist, Deloitte India
The latest set of numbers on growth for the second quarter show that activity levels were recovering from the disruption caused in the first quarter. The break up shows improved performance of manufacturing that could have possibly been affected by the implementation of GST from 1st of July.
Sumedh Deorukhkar, Senior Economist, BBVA, Hong Kong
The latest growth outturn is in line with RBI’s recent rhetoric and thus shouldn’t move the needle on interest rates. We expect RBI to remain on pause in December and February, given upside risks to inflation as well as the fiscal deficit, exacerbated by rising oil prices and a gradually tightening global rates environment. We estimate India’s full-year GDP growth to pick up from 6.7 percent in FY18 to 7.3 percent and 7.5 percent in FY19 and FY20, respectively.
Tushar Arora, Senior Economist, HDFC Bank
The GDP number is exactly in line with our expectations. Upbeat corporate earnings results have been reflected in the manufacturing sector. As the revival continues, we are likely to keep the annual (GDP) forecast unchanged at 6.5 percent.
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