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Indian economy back on track, GDP expands 6.3% in July-Sep quarter: Who said what

Bouncing back from a three-year low, Indian economy has reversed a five-quarter slide in GDP growth to expand by 6.3 % in July-September quarter. According to data from the Central Statistics Office (CSO), the GDP for Q2 stood at Rs 31.66 lakh crore, registering a growth of 6.3%, up from 5.7% reported during the first quarter of 2017-18. Chief Statistician T C A Anant hinted that the GDP numbers could be revised upwards as businesses uncertain of the new Goods and Services Tax (GST) regime may have accounted for lesser taxes. While the government was upbeat with the positive growth which came just ahead of the Gujarat Assembly polls, Opposition leaders said this was too early to arrive at a conclusion and government should wait longer to beat its chest. Here is how people across the country have reacted to the GDP numbers: Also readImpact of demonetization and GST behind us: Arun Jaitley on Q2 GDP figuresArun Jaitley, Union Finance MinisterGovernment’s reforms to push economic growth are working can be seen from that manufacturing has shown robust growth of 7% in Q2 and services at 7.1%. Gross fixed capital formation has increased from 1.6% in Q1 to 4.7% in Q2.Also readAhead of Gujarat polls, GDP brings cheers for PM Narendra Modi, grows at 6.3% in Q2Amit Shah, BJP PresidentToday’s GDP numbers reiterate the #IndiaUnstoppable story under PM Narendra Modi. The strong rebound in growth is a reflection of solid economic management by the Modi Government. The reforms by Modi Govt is leading to faster growth as well as creating a strong and stable economy with increased formalisation and increased opportunities for the poor and middle class.Piyush Goyal, Union Minister for RailwaysTransformational reforms under PM Narendra Modi ji bearing fruit through faster growth and prosperity for all. Quarterly GDP growth accelerates to 6.3% vs 5.7% in the previous quarter.P Chidambaram, Congress leader and former Union MinisterHappy that the July-Sep quarter has registered a growth rate of 6.3%. This a PAUSE in the declining trend of the last five quarters. But we cannot say now whether this will mark an upward trend in the growth rate. We should wait for the growth rates over the next 3-4 quarters before we can reach a definite conclusion. 6.3% is far below the PROMISE of the Modi government and far below the POTENTIAL of a well-managed Indian economy.Randeep S Surjewala, Congress spokespersonImprovement of GDP numbers is an encouraging sign, but it is just a ‘Temporary Pause’ from the ‘Downward Trend’. India’s Economic Stress continues; #GDP far below at 6.3% compared to 7.5% of Q2 of last year! -A close scrutiny reveals the Real Picture. No amount of ‘Spinning’,‘Sugar Coating’ and ‘Bloating on figures; will alter the Ground Reality that has hit us hard! Agriculture Sector Growth is Abysmal & Core Sector Growth is Stagnant & Manufacturing Down – What is the Modi Government celebrating.Mamata Banerjee, West Bengal CMGDP figures out. Again no growth. No jobs.Effects of note ban scam & unplanned GST continue to damage economy. Only talking. No performance. Last year Q2 GDP growth was 7.5% and this year it is 6.3%. This Govt only bhashan, no action.Chandrajit Banerjee, Director General, CIIThe rebound in GDP growth to 6.3% is noteworthy and a great confidence booster. The revival of the #GDP growth print reinforces the perception that economy is on a robust recovery phase and the short-term disruptions caused by demonetisation and GST are behind us. CII believes that eco performance wd be better in the 2nd half as companies move to execute projects on the back of improved demand.
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