Economy bounces back to record 5.7% growth, highest in over two years

[sumitjattan]

NEW DELHI: Buoyed by performance of mining, manufacturing and services sector, Indian economy has bounced back to record a growth rate of 5.7 per cent for the April- June quarter, highest in the past two-and-half years.
India's gross domestic product had expanded by 4.7 per cent April-June quarter of the last fiscal ended March 31.
According to data released here on Friday by the Central Statistics Office (CSO), manufacturing sector recorded a growth of 3.5 per cent in the first quarter of 2014-15 as against a contraction of 1.2 per cent in Q1, 2013-14.

The mining sector too grew by 2.1 per cent in April-June quarter compared a decline in production by 3.9 per cent the year-ago period.
The highest growth rate during Q1, 2014-15 was recorded by financial services sector at 10.4 per cent, followed by electricity gas and water supply at 10.2 per cent.
The previous high of GDP growth rate was recorded at 6 per cent in the October-December quarter of 2011-12. The economic growth in preceding quarter (January-March) was 4.6 per cent.

Manufacturing sector recorded a growth of 3.5 per cent in the first quarter of 2014-15.
The construction sector expanded 4.8 per cent in first quarter of this fiscal as against 1.1 per cent growth in the year-ago period.
Growth in the trade, hotels, transport and communications segment also inched up to 2.8 per cent in the first quarter from 1.6 per cent in the same period of 2013-14.
As regard the farm sector which includes agriculture forestry and fishing recorded at deceleration in growth at 3.8 per cent in first quarter compared to 4 per cent a year ago.
Gross Fixed Capital Formation, a barometer of investment at current prices is estimated at Rs 8.14 lakh crore for Q1, as against Rs 7.32 lakh crore a year ago.
At constant (2004-2005) prices, the GFCF is estimated at Rs 4.96 lakh crore in Q1 as against Rs 4.63 lakh crore.

http://timesofindia.indiatimes.com/business/india-business/Economy-bounces-back-to-record-5-7-growth-highest-in-over-two-years/articleshow/41195986.cms

Finally Economy is getting over the UPA hangover .....We are back on track

 

[rkumar]

NEW DELHI: Buoyed by performance of mining, manufacturing and services sector, Indian economy has bounced back to record a growth rate of 5.7 per cent for the April- June quarter, highest in the past two-and-half years.
India's gross domestic product had expanded by 4.7 per cent April-June quarter of the last fiscal ended March 31.
According to data released here on Friday by the Central Statistics Office (CSO), manufacturing sector recorded a growth of 3.5 per cent in the first quarter of 2014-15 as against a contraction of 1.2 per cent in Q1, 2013-14.

The mining sector too grew by 2.1 per cent in April-June quarter compared a decline in production by 3.9 per cent the year-ago period.
The highest growth rate during Q1, 2014-15 was recorded by financial services sector at 10.4 per cent, followed by electricity gas and water supply at 10.2 per cent.
The previous high of GDP growth rate was recorded at 6 per cent in the October-December quarter of 2011-12. The economic growth in preceding quarter (January-March) was 4.6 per cent.

Manufacturing sector recorded a growth of 3.5 per cent in the first quarter of 2014-15.
The construction sector expanded 4.8 per cent in first quarter of this fiscal as against 1.1 per cent growth in the year-ago period.
Growth in the trade, hotels, transport and communications segment also inched up to 2.8 per cent in the first quarter from 1.6 per cent in the same period of 2013-14.
As regard the farm sector which includes agriculture forestry and fishing recorded at deceleration in growth at 3.8 per cent in first quarter compared to 4 per cent a year ago.
Gross Fixed Capital Formation, a barometer of investment at current prices is estimated at Rs 8.14 lakh crore for Q1, as against Rs 7.32 lakh crore a year ago.
At constant (2004-2005) prices, the GFCF is estimated at Rs 4.96 lakh crore in Q1 as against Rs 4.63 lakh crore.

http://timesofindia.indiatimes.com/business/india-business/Economy-bounces-back-to-record-5-7-growth-highest-in-over-two-years/articleshow/41195986.cms

Finally Economy is getting over the UPA hangover .....We are back on track

Ye kiya report kar diya bhai Jaan. Modi haters ke pait kharab ho jayenge. Just watch with what all they are going to respond. India is definitely heading for 7-9% growth rate within two years.

RK^2

 

[amankadian]

Ye kiya report kar diya bhai Jaan. Modi haters ke pait kharab ho jayenge. Just watch with what all they are going to respond. India is definitely heading for 7-9% growth rate within two years.

RK^2

He is right it was 4.6% the end of march in this year. But now It's increased. It was based on quarter of year. not yearly.


:tongue:

 

[prikshit]

Looking at these results, wo modi wave diminishing wala thread bandh kar dena chahiye

 

[vk23]

Looking at these results, wo modi wave diminishing wala thread bandh kar dena chahiye

My friend this is a result of last government efforts. Also American economy is slowly improving. Also this data is from April-June quarter. It is too early to comment on Modi's government efforts!Therefore attributing this growth to Modi government is not wise and is not appropriate.

 

[amankadian]

My friend this is a result of last government efforts. Also American economy is slowly improving. Also this data is from April-June quarter. It is too early to comment on Modi's government efforts!Therefore attributing this growth to Modi government is not wise and is not appropriate.

[TABLE="class: wikitable sortable jquery-tablesorter"]
[TR]
[TD]2000[/TD]
[TD]5.6[/TD]
[/TR]
[TR]
[TD]2001[/TD]
[TD]6.0[/TD]
[/TR]
[TR]
[TD]2002[/TD]
[TD]4.3[/TD]
[/TR]
[TR]
[TD]2003[/TD]
[TD]8.3[/TD]
[/TR]
[TR]
[TD]2004[/TD]
[TD]6.2[/TD]
[/TR]
[TR]
[TD]2005[/TD]
[TD]8.4[/TD]
[/TR]
[TR]
[TD]2006[/TD]
[TD]9.2[/TD]
[/TR]
[TR]
[TD]2007[/TD]
[TD]9.0[/TD]
[/TR]
[TR]
[TD]2008[/TD]
[TD]7.4[/TD]
[/TR]
[TR]
[TD]2009[/TD]
[TD]7.4[/TD]
[/TR]
[TR]
[TD]2010[/TD]
[TD]10.1[/TD]
[/TR]
[TR]
[TD]2011[/TD]
[TD]6.8[/TD]
[/TR]
[TR]
[TD]2012[/TD]
[TD]6.5[/TD]
[/TR]
[TR]
[TD]2013[/TD]
[TD]4.4[/TD]
[/TR]
[/TABLE]


India growth rate after 2004 was always good. It better than US and other countries.

But when we see GDP as Per Hand Capita. It's only $1550 Nominal and PPP is just $4100

I mean don't forget that GDP for 1 billion people.

 

[sumitjattan]

One more e narega worker welcome buddy

My friend this is a result of last government efforts. Also American economy is slowly improving. Also this data is from April-June quarter. It is too early to comment on Modi's government efforts!Therefore attributing this growth to Modi government is not wise and is not appropriate.

 

[sumitjattan]

Scams are big efforts by them to improve their own economy ..instead of improving country's economy

My friend this is a result of last government efforts. Also American economy is slowly improving. Also this data is from April-June quarter. It is too early to comment on Modi's government efforts!Therefore attributing this growth to Modi government is not wise and is not appropriate.

 

[rkumar]

.............................. It is too early to comment on Modi's government efforts!Therefore attributing this growth to Modi government is not wise and is not appropriate.

Wah... in this case its too early... but not too early when it comes to Modi wave... Why don't you simply say that you will talk against Modi come what may. Anyway, it hardly matters to Modi supporters.

RK^2

 

[vk23]

Wah... in this case its too early... but not too early when it comes to Modi wave... Why don't you simply say that you will talk against Modi come what may. Anyway, it hardly matters to Modi supporters.

RK^2

There is a dichotomy between two. Your comparison is wrong because Modi wave is something on which entire BJP thrived and survived somehow(By making tall and fall promises). Economy cannot bounce back in one month without even sorting out ministries. Let alone reforms and what not. Therefore it would be unfair to credit Modi government for this surge in the economy. It's a welcome news but no sane person would attribute it to a government which did not even started work. It's the previous government effort which stimulated economy and also improvement in the global economy.

 

[jsrana]

आज आधी रात से पेट्रोल के दाम 1.82 रुपये प्रति लीटर कम हो जाएंगे (पीटीआई)।

 

[prikshit]

आज आधी रात से पेट्रोल के दाम 1.82 रुपये प्रति लीटर कम हो जाएंगे (पीटीआई)।

vishal, bhai ye petrol bhi gandhis ne kam karwaya hoga fir to.

 

[ayushkadyan]

We should welcome these good news. Hope the new government will give us more reasons to smile in coming days. A positivity is coming since the new government came into the power. I think irrespective of political affiliation one should appreciate the steps which government is taking for the betterment of the country and its citizens. You may not like a particular party or a particular politician but not supporting the good work done by party or person will prove you a prejudiced person.

I hope few members who claim that they are secular, broadminded, progressive and intellectual, It will add some credibility to their greatness if they accept the fact of bright parts of our current PM and government's decisions.

 

[rkhatkar]

There is a dichotomy between two. Your comparison is wrong because Modi wave is something on which entire BJP thrived and survived somehow(By making tall and fall promises). Economy cannot bounce back in one month without even sorting out ministries. Let alone reforms and what not. Therefore it would be unfair to credit Modi government for this surge in the economy. It's a welcome news but no sane person would attribute it to a government which did not even started work. It's the previous government effort which stimulated economy and also improvement in the global economy.

In my views the Topic of the thread is a well selected one; Mr Sumit Jattan deserves Thanks from participants. The views posted by Mr Vishal (VK23) are correct and in right direction, not only me, even economists shall agree to it . I'm a new entrant to this site and have observed that our participants have very innovative thinking but, most take the discussion towards political alignments, The topic selected is not for political analysts but properly it relates to economists. The participants views in discussions should be the guiding factor for the students/researchers/readers so that they can quote it in their references.

This is not fact that India did not survive without past personalities like Gandhi Ji, Nehru Ji' Sashtri Ji, Indira Ji, Moraraji Sahib, Chaudhary Charan Singh Ji, Rajiv Ji, VP Singh Ji, Vajpayee Ji, nor it is fact that Dr Manmohan Singh destroyed the economy and India. In future it will not be true that this country shall not survive without Modi Ji for ever. Let us have a fair discussion and expression on this good topic
As far as political propaganda in development is considered, I remind the days of Shri Lalu Yadav as Railways Minister; at that time Indian and foreign media showed him Hero of turn around in Railways, Management scholars visited him to learn management from him. but Lalu Ji failed test of time as of now Railways is the same as it was ever before. This is fact that intelligent analysts knew that without improving facilities Lalu Ji renamed the local trains as "Express or Super-fast" that automatically changed the fare table of the same train e.g starting from Rs. 10-15 for local name to Rs. 35-40 for renamed express/super-fast etc; in fact he heavily increased fairs be-fooling people.

As of now, we are not at the commenting stage for Modi Ji, definitely his philosophy as also willingness is encouraging but challenges/ circumstances are not so easy, let us wait and hope good.

Thanks and good wishes to all

 

[drrajpalsingh]

In my views the Topic of the thread is a well selected one; Mr Sumit Jattan deserves Thanks from participants. The views posted by Mr Vishal (VK23) are correct and in right direction, not only me, even economists shall agree to it . I'm a new entrant to this site and have observed that our participants have very innovative thinking but, most take the discussion towards political alignments, The topic selected is not for political analysts but properly it relates to economists. The participants views in discussions should be the guiding factor for the students/researchers/readers so that they can quote it in their references.

This is not fact that India did not survive without past personalities like Gandhi Ji, Nehru Ji' Sashtri Ji, Indira Ji, Moraraji Sahib, Chaudhary Charan Singh Ji, Rajiv Ji, VP Singh Ji, Vajpayee Ji, nor it is fact that Dr Manmohan Singh destroyed the economy and India. In future it will not be true that this country shall not survive without Modi Ji for ever. Let us have a fair discussion and expression on this good topic
As far as political propaganda in development is considered, I remind the days of Shri Lalu Yadav as Railways Minister; at that time Indian and foreign media showed him Hero of turn around in Railways, Management scholars visited him to learn management from him. but Lalu Ji failed test of time as of now Railways is the same as it was ever before. This is fact that intelligent analysts new that without improving facilities Lalu Ji renamed the local trains as "Express or Super-fast" that automatically changed the fare table of the same train e.g starting from 10-15 for local name to 35-40 for renamed express/super-fast etc; in fact he heavily increased fairs be-fooling people.

As of now, we are not at the commenting stage for Modi Ji, definitely his philosophy as also willingness is encouraging but challenges/ circumstances are not so easy, let us wait and hope good.

Thanks and good wishes to all

Absolutely correct analysis of the posts and the subject in hand.

It is too early to draw tangible conclusions in a haste on the data provided.

National economy shows welcome signs is good news but it is wrong to appraise Modi and his Governments full tenure on the slight signs of changes.

Let him and the economic changes stabilize and then grow at the expected level.

 

[rkumar]

vishal, bhai ye petrol bhi gandhis ne kam karwaya hoga fir to.

File was moved during congress rule and was gathering dust . Modi just picked it up, cleaned and signed... Paper of the file was also manufactured during congress rule. ... Om Jai Congress Hare..

RK^2

 

[rkumar]

In my views the Topic of the thread is a well selected one; Mr Sumit Jattan deserves Thanks from participants. The views posted by Mr Vishal (VK23) are correct and in right direction, not only me, even economists shall agree to it . I'm a new entrant to this site and have observed that our participants have very innovative thinking but, most take the discussion towards political alignments, The topic selected is not for political analysts but properly it relates to economists. The participants views in discussions should be the guiding factor for the students/researchers/readers so that they can quote it in their references.

This is not fact that India did not survive without past personalities like Gandhi Ji, Nehru Ji' Sashtri Ji, Indira Ji, Moraraji Sahib, Chaudhary Charan Singh Ji, Rajiv Ji, VP Singh Ji, Vajpayee Ji, nor it is fact that Dr Manmohan Singh destroyed the economy and India. In future it will not be true that this country shall not survive without Modi Ji for ever. Let us have a fair discussion and expression on this good topic
As far as political propaganda in development is considered, I remind the days of Shri Lalu Yadav as Railways Minister; at that time Indian and foreign media showed him Hero of turn around in Railways, Management scholars visited him to learn management from him. but Lalu Ji failed test of time as of now Railways is the same as it was ever before. This is fact that intelligent analysts new that without improving facilities Lalu Ji renamed the local trains as "Express or Super-fast" that automatically changed the fare table of the same train e.g starting from 10-15 for local name to 35-40 for renamed express/super-fast etc; in fact he heavily increased fairs be-fooling people.

As of now, we are not at the commenting stage for Modi Ji, definitely his philosophy as also willingness is encouraging but challenges/ circumstances are not so easy, let us wait and hope good.

Thanks and good wishes to all

Agreed. However, a guy who has just started as PM and working hard overtime in right direction needs some appreciation from the citizens. It irritates when Pseudo Secular brigade keeps talking against him all the time. They have been doing it for last 12 years. There is limit to which a normal citizen can bear this nuisance. When it comes to contributing towards India's development, even British contributed a lot. However the looted a lot also. Mughals also built few canals and large number of buildings. Issue is not this. Issue is, is government acting as per the needs of the day and as per the global trends at a speed which matches that of the competitors? Did anyone speak of scale, speed and skill in last 1000 years in India ?

RK^2

 

[amankadian]

It's fact that

industry sector main naya josh hai modi govt ke ane se. Growth rate increase hone k chance hai.

 

[rkumar]

It's fact that

industry sector main naya josh hai modi govt ke ane se. Growth rate increase hone k chance hai.

Massive expansion in banking sector is taking place already. Banks are reaching to the last man. It has never happened in India or anywhere in the world at such a scale in such a short time. Then Modi is talking of Digital Lockers, another innovative concept. India is truly heading towards great future, of course except for the cynics.

RK^2

 

[prikshit]

m.economictimes.com/news/economy/indicators/economy-turning-around-inflation-moderating-finance-minister-arun-jaitley-on-100-days/articleshow/41268103.cms