New Delhi: Ahead of Gujarat elections, India’s GDP (Gross Domestic Product) growth rate for the second quarter of the current fiscal has brought forth reasons for cheer for the Modi Government, was being criticised by opposition as the country’s GDP had been sliding for the last five quarters after demonetisation.
India’s GDP growth rate for the second quarter (July-September) of the current fiscal stood at 6.3 per cent, government data showed on Thursday.
The previous quarter’s (April- June) growth rate at 5.7 per cent was at a three-year low. The GDP growth for the corresponding quarter last year stood at 7.5 per cent.
The GVA (Gross Value Added) to the economy in the reporting quarter stood at 6.1 per cent, up from 5.6 per cent in the last quarter.
The growth rate was widely expected to bounce back as there were clear signs of the businesses coming out of slowdown caused by demonetisation and the GST rollout.