Markets

Global slowdown? India's economy is accelerating

Global slowdown? India's economy is accelerating

The rally can be attributed to the manufacturing sector which grew by 13.5 per cent. India's GDP growth rate zooms to 8.2% in the first quarter of 2018-2019 fiscal year.

The country's economy grew at a nine-quarter high rate of 8.2 per cent in the first quarter of the current fiscal, as per the Central Statistics Office (CSO).

As India's GDP growth for the first quarter of 2018-19 accelerated to 8.2 per cent, former Finance Minister P.

In what signals the complete revival of Indian economy from the adverse impact of demonetisation and GST-roll out, the GDP for Q1 of 2018-19 has grown at 8.2 per cent, which is the highest in the last 15 quarters.

Even as India's GDP expanded by 8.2 per cent in the quarter ended June 2018, aided by rising domestic consumption and government spending, the other two engines of the economy - private investments and exports continue to lag.

Still, India's $2.6 trillion economy surpassed France's in 2017 to become the world's sixth-largest, and it was not far behind the United Kingdom, according to World Bank data.

However, service sector figures dipped to 7.3% from 9.5 % as well as the government expenditure which had supported the growth last year, receded to 9.9% from 13.5 % same quarter the previous year.

Massive political fallout from Trans Mountain court decision
He said he expects the Kinder Morgan sale to be finalized on Friday and called it a good financial decision. As a result, it effectively halts construction of the 1,150-kilometre project indefinitely.

Reforms and fiscal prudence are serving the economy well and this growth in an environment of global turmoil represents the potential of India, Finance Minister Arun Jaitley said in posts on Twitter.

"We predicted that the growth would be in the range of 7.7 to 7.5 per cent annually".

Agriculture sector also showed a marked improvement as it reported 5.3 percent in Q1-FY19 as against 3.0 percent in the corresponding quarter a year ago and 4.5 percent in the preceding quarter.

The index of industrial production (IIP) - the broadest approximation to measure activity across India's factories - has grown at 5.2 percent during April-June 2018 compared with 1.9 percent in the same period previous year.

A strong manufacturing sector and isolation from ongoing trade tensions helped power growth, analysts say.

ANZ's Mendiratta said: "Going ahead I expect growth to moderate as private investment is unlikely to grow at a faster rate due to stressed assets".

GVA, which is GDP minus taxes, serves as a more realistic proxy to measure changes in the aggregate value of goods and services produced in the economy. Contrary to our expectation of a modest sequential slip, GDP growth has strengthened in Q1 FY2019 relative to Q4 FY2018.


  • California Lawmakers Vote for Net Neutrality

    California Lawmakers Vote for Net Neutrality

    The repeal of the rule was fought by Silicon Valley's top players including Amazon, Facebook , Google and Netflix. He said "light-touch" regulation would lead to more innovation, competition and cheaper prices for consumers.
    Apple expected to unveil new iPhone models on September 12

    Apple expected to unveil new iPhone models on September 12

    The most significant change coming with the Apple Watch Series 4 is rumoured to be a larger, "edge-to-edge display". Apple is one of those companies that makes people wait all year for its new products with bated breath.
    Umpire wrong in Kyrgios 'I want to help you' row, says Federer

    Umpire wrong in Kyrgios 'I want to help you' row, says Federer

    He doesn't need to say the words he said on the video. "I think it's always tricky against Benoit, never quite the same point". Nick Kyrgios was struggling against Pierre-Hugues Herbert before a dramatic turnaround following a chat with the umpire.
  • Governor Signs Legislation to Eliminate Money Bail System in CA

    Governor Signs Legislation to Eliminate Money Bail System in CA

    In negotiating a compromise with Brown and the California judiciary, she said, the authors of SB 10 abandoned those principles. Assemblywoman Lorena Gonzalez-Fletcher, D-San Diego, carried the bill on the Assembly floor Tuesday.
    Wrighty: Man Utd's Shaw best left-back in England

    Wrighty: Man Utd's Shaw best left-back in England

    Southgate said he mostly opted for continuity because "those who were with us in the summer deserve the right to go again". Others haven't really had the opportunity to force themselves ahead of those guys.
    Trump says counsel McGahn to leave White House

    Trump says counsel McGahn to leave White House

    Sessions eventually did recuse himself, giving his deputy, Rod Rosenstein, the ultimate authority to appoint a special counsel. During his time as White House counsel, McGahn repeatedly butted heads with Trump and occupied a position rife with conflicts.
  • Dutch lawmaker cancels blasphemous contest

    Dutch lawmaker cancels blasphemous contest

    Wilders has received hundreds of death threats in the weeks that passed since he announced his plans for a cartoon contest.
    Chelsea fans made an exciting observation about Mateo Kovacic in Bournemouth win

    Chelsea fans made an exciting observation about Mateo Kovacic in Bournemouth win

    Chelsea FC hosts AFC Bournemouth at Stamford Bridge on Saturday, Sept. 1, in the fourth week of English Premier League play. Speaking to the BBC after the game, Maurizio Sarri reflected: "I'm really very happy with my players".
    Google’s Navlekha To Help Indians Publish Content in Regional Language

    Google’s Navlekha To Help Indians Publish Content in Regional Language

    People using Google Go come from many different backgrounds, and some might want extra tools to help read and pronounce new words. And they're no longer predominantly men: in the next three years, we expect 45 percent of Internet users in India to be women.
  • Huawei introduces world's first 5G-ready 7nm mobile chipset Kirin 980

    Huawei introduces world's first 5G-ready 7nm mobile chipset Kirin 980

    On the networking front, the Kirin 980 platform includes an LTE Cat.21 modem that delivers download speed of up to 1.4 Gbps. Huawei says the Kirin 980 is capable of recognizing 4,500 images per minute, a 120 percent improvement over the Kirin 970.
    Halle Berry jokes about teenage Prince Harry's dorm room poster of her

    Halle Berry jokes about teenage Prince Harry's dorm room poster of her

    As with most teenage boys, his dorm room featured a healthy balance of school supplies and posters showcasing his teenage tastes. A series of old photos from Prince Harry's days at Eton College is doing rounds on the Internet, yet again.
    Hurricane lane brought to Hawaii record rainfall

    Hurricane lane brought to Hawaii record rainfall

    It used to be situated 1,230 miles east-southeast of Hilo and used to be transferring west at Thirteen mph. The center of the storm is located 1,105 miles ESE of HIlo at 14.2 N 139.4 W, moving west at 12 mph.