Manufacturing, agriculture drive higher- than- expected numbers
Gross Domestic product (GDP)
For the third quarter (Q3) of financial year 2016 - 17 (FY17)
Grew at 7℅ allyling fears of any major effect of demonetisation
Through it was the lowest expansion in four quarters.
Private final Consumption expenditure denoting demand, rose at double the rate (10℅) in Q3 against five per cent in Q2.
The aQ3 members not only made India the fastest- growing
Large economy in the world but also helped the central statistics Office (CSO) retain its earliest projection ( in first advance estimates) for full-year
GDP growth at 7.1per cent in the second advance estimates
Rd on Tuesday.
CSO stuck to it's projection despite the fact that GDP growth for 2015 -16 was revised
to 7.9 ℅ from earlier 7.6℅ after release of the first advance data. Investors continued to show weakness for the entire
financial year even though it was shown to rise against contraction in earlier data. First advance estimates did not take
Into account the impact of
demonetisation, while the second one factored it in terms
of latest available data.
