Prime Minister’s Economic Advisory Council (EAC-PM) Chairman Bibek Debroy on Friday welcomed the GDP growth recovery in the second quarter of the current fiscal and said the trend will continue in the future quarters.
“In the wake of various measures being undertaken by the Central government, this GDP growth trend will continue in the future quarters also,” he said, as per a statement from the advisory panel.
The NITI Aayog Member added that the EAC-PM had embarked on several initiatives which will contribute to stable economic growth and employment.
Official data released on Thursday revealed that a rise in the manufacturing sector’s output pushed India’s growth rate higher to 6.3 per cent during the second quarter of 2017-18 breaking a five quarters slump.
“Economic Advisory Council to the Prime Minister has welcomed the GDP growth recovery in the second quarter of the current fiscal year reversing the declining trend in the last five quarters,” the advisory panel said.
“EAC-PM since its establishment has been focussing on various driving factors that influence economic growth of the country,” it added.
Populist nationalism is divisive, damages financial growth, says ex RBI governor Raghuram Rajan
On a sequential basis, India’s GDP growth for Q2 of the current fiscal went up to 6.3 per cent, from 5.7 per cent reported during the first quarter of 2017-18.