Rebound in GDP growth to continue, says Bibek Debroy

Published On: 01, Dec 2017 | Source: financialexpress.com

A day after GDP data showed Indian economy has entered the revival lane, EAC-PM Chairman Bibek Debroy said the trend will continue in coming quarters too. Reversing a five-quarter slide in GDP growth, Indian economy bounced back from a three-year low to expand by 6.3 per cent in July-September as manufacturing picked up momentum and businesses adjusted to the new GST tax regime. The GDP growth in the second quarter of 2017-18 compares to 5.7 per cent in April-June, the lowest growth rate since the Narendra Modi government took charge, and 7.5 per cent in the September quarter of the previous fiscal. The Economic Advisory Council to the Prime Minister (EAC-PM), in a statement, said Debroy is of the view that in the wake of various steps taken by the government, “this GDP growth trend will continue in future quarters also”. He added that the EAC-PM has taken several initiatives that will contribute to stable economic growth and employment.