Really good news for the BJP-led government that Gross Domestic Product (GDP) grew 6.3 percent in July-September, its fastest pace in three quarters.
Economists said the economy has also broadly moved past the disruptions encountered after the last year’s shock ban on high-value notes. Here comes an end towards all controversies against BJP Government on Demonetisation and GST.
Prime Minister Narendra Modi and Arun Jaitley have insisted that both GST and demonetization are important structural reforms that will bring long-term benefits.
This development seems to show that Indian economy is shaking off the effects of demonetization and GST rollout after witnessing a low growth of 5.7% in the June quarter. This result will be a turning point for BJP Government in coming elections.
But the Former finance minister and Congress leader P Chidambaram said the GDP growth rate is a pause in the declining trend and one should wait for the next three-four quarters before drawing a definite conclusion.
Whatever we have to wait to conclude Is Modi going to fulfill his promises of making a New India or not.
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