India's growth pace for October-December quarter could top China's rate

04 March, 2018, 04:03 | Author: Martin Tyler
  • India’s economic growth picked up sharply in October December quarter expanding by 7.2 per cent which indicates that economy has turnaround after demonetisation and GST

India's GDP for the third quarter of 2017-18 grew at 7.2%, official data stressed on Wednesday. The last time the economy had a faster growth rate was in the final three months of 2016.

"However, the gross value addition (GVA), which is net of taxes, is not as good as GDP, underscoring the fact much more needs to be done in terms of sustainable growth", he added. In manufacturing which is the real key to jobs data, the growth has come down to 5.1 per cent this year compared with 7.9 per cent in the previous year.

"We have added the risk of a rate hike sometime between June to August 2018 following the recent monetary policy minutes, hinging on the inflation trajectory, and the GDP numbers reinstate our views".

"The higher growth in the third quarter is partly because of the base effect".

East And West, Both Coasts Brace For Major Winter Storms
NY could see 10 inches of snow or more , and some parts of New England could get three to four inches of rain. In the event we don't lose power, I'll be reviewing a stack of master's papers and doing a bit more blogging.

Interestingly, sectors such as agriculture, manufacturing, construction, real estate and other services have helped the growth. The government also revised its GDP forecast for the 2017-'18 financial year to 6.6% from its previous prediction of 6.5%. Garg said: "Manufacturing growth at 8.1 per cent and construction growth at 6.8 percent confirms robust turnaround in industrial economy". Surely that is bound to weigh on growth and dent confidence, especially with the government and the probe agencies appearing to go overboard after successive reports of frauds and wrongdoing in many banks.

The government estimates the economy will grow by 7.2-7.5 percent in the second half of the current fiscal year and has said the country is on track to achieve growth of eight percent "soon".

China had recorded a growth of 6.8 per cent in the December quarter.

"... The growth in GDP during 2017-18 is estimated at 6.6 percent as compared to the growth rate of 7.1 percent in 2016-17", the estimates disclosed.

Gold Weinstein statue sits on gold casting couch in Hollywood
A collaboration between @plasticjesus & @morgothlot Harvey Weinstein became an icon in the entertainment industry. Street artists Plastic Jesus and Joshua Ginger Monroe collaborated on the sculpture.

The agriculture sector grew 4.1 percent in October-December period.

The ECI index represents the output of major sectors like coal, steel, cement and electricity and carries 40.27 per cent weightage of the Index of Industrial Production which is the macro-gauge for India's factory output.

"We foresee bank lending being affected in the quarters ahead because of the problems plaguing our financial sector", Rao said. The IMF's update, released in January, projects a 7.8 per cent growth rate for India in 2019.

Billy Graham's children pay tribute to 'America's Pastor' at funeral service
Members of Congress, arranged in a line that snaked through the Rotunda, waited to greet the family after the ceremony. USA leaders who relied on the spiritual counsel of the man some called the "Protestant pope" included Lyndon B.



UFC 222 Post-Fight Press Conference Live Tonight (March 3)
Now, Cyborg returns to the Octagon and takes on newcomer Yana Kunitskaya for her second title defense. She then went on to compete in rukoposhnomu fights, where she apparently went undefeated.

Alexa may be able to translate languages in real
Presumably, this functionality will be available from Amazon's app and Alexa app, too. Google caused a stir when they demonstrated real-time translation via the Pixel Buds.

Facebook discontinues failed split News Feed experiment
Therefore, the solution was to create two spaces - one for connecting with others, and the other for posts from websites. Today, we're ending one of those tests: "the Explore Feed ", the company has said it its blog post.

Police called to Tori Spelling's home after actress suffers 'nervous breakdown'
Dean remains without a job, and the stress over the bills has been causing the couple to fight non-stop according to insiders. She literally was hysterical and, sadly, the kids were home and everyone was scared. "She is under far too much pressure".

Services suspended at Glasgow Airport due to snow
Shannon handled 20 flight diversions alone from Dublin and Cork Airports starting from 04.20 on Wednesday morning until midnight. Aer Lingus and Ryanair have announced that all flights in and out of Ireland after 3pm today are cancelled until Saturday.

ED seizes 41 assets of Nirav Modi
It has also told secured lenders it was in discussions with lenders for debtor-in-possession financing as it weighed options. The company is a wholly owned subsidiary of Firestar Group, which in turn is wholly owned by Synergies Corp.

The price of oil rose above $ 67
"Investors are now keeping a close watch on the USA inventory number as growth has been rather slower than expectations". Analysts also said prices were following through a more than 1.5 percent rise on Thursday.

International Olympic Committee to uphold Russian Federation ban for closing ceremony
Yet, IOC President, Thomas Bach, does not rule out lifting Russia's suspension - even if additional doping cases should arise. The athletes have been participating under the name Olympic Athletes from Russian Federation .

Russian Federation vetoes United Nations resolution to call out Iran over Yemen
It received 11 votes in favor, two against - Russian Federation and Bolivia - while China and Kazakhstan abstained . Today, Russia protected the terrorist-sponsoring regime in Iran.

Turkey requests extradition of Syrian Kurdish leader from Czech Republic
New "red notices" were issued on February 13, with officials offering just over $1 million for his return. Muslim reportedly was on Turkey's most-wanted list.