NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Business News / GDP growth in April-June quarter slides to 5.7%
    GDP growth in April-June quarter slides to 5.7%
    1/4
    Business 2 min read

    GDP growth in April-June quarter slides to 5.7%

    By Anish Chakraborty
    Aug 31, 2017
    09:17 pm
    GDP growth in April-June quarter slides to 5.7%

    As per data, the growth of Indian economy slumped to a three-year low in the April-June quarter. Gross domestic product (GDP) grew merely 5.7% during the latest quarter, while in the preceding quarter it was 6.1% and in the same period, last fiscal 7.9% GDP growth was witnessed. The previous low was 4.6%, which was noticed in January-March 2014. Here's more about it.

    2/4

    Jaitley calls it "pre-GST effect"

    Calling this slow-growth a "pre-GST effect," FinMin Arun Jaitley said, "It is quite obvious that it, therefore, throws up a challenge for the economy. In the coming quarters, we really require, both in terms of policy and investments, to work more to improve upon these figures." June quarter "is a matter of concern" but Jaitley is optimistic about a recovery in the coming quarters.

    3/4

    Modi is in trouble

    This comes as a major blow to the NDA government led by Narendra Modi, which is, currently facing flak from all quarters. The massive demonetization scheme, which was initiated by Modi, had caused severe cash squeeze through out last year. And, as RBI-released data shows, its outcome has been way different from what was promised.

    4/4

    Disappointment is the word

    Abheek Barua, chief economist with HDFC in New Delhi, told Reuters, "The numbers seem to suggest that the slowdown from last quarter has intensified due to the combination of long-term slowdown and temporary shock factors like demonetization and GST. The firm will, therefore, revise its GDP outlook numbers for the full year." The GDP number is "disappointing," said Crisil's D. K. Joshi.

    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    India
    Narendra Modi
    Reserve Bank Of India (RBI)
    Arun Jaitley

    India

    ISRO first private navigation satellite launch fails Space News
    Post-GST, fewer customers having to pay service charge GST
    Indian Navy sailor Shabi facing termination for undergoing sex change Andhra Pradesh
    The marital rape debate: Delhi HC calls the practice "criminal" Sushma Swaraj

    Narendra Modi

    Why India and China agreed to settle the Doklam crisis India
    India-China agree to withdraw troops, end Doklam standoff India
    All gold transactions may soon require PAN India
    Cabinet re-shuffle in a fortnight: Difficult decisions await Modi-Shah duo India

    Reserve Bank Of India (RBI)

    What did India achieve from demonetization move? India
    1,000 rupee notes will not be re-introduced, says FinMin India
    Digital payments may get you 2% relief on GST India
    New Rs. 1,000 notes to come with enhanced security features India

    Arun Jaitley

    Govt defines creamy layer posts in PSUs, other public institutions PSUs
    Indian Army to undergo reforms to boost combat capability India
    Delhi: Metro ridership witnesses sharp decline in June after price-hike Delhi
    Bengaluru: Woman throws off her 7-year-old daughter twice from terrace Karnataka
    Next News Article

    Love Business News?

    Subscribe to stay updated.

    Business Thumbnail

    Live

    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023