CSO estimates GDP to grow at 7.2 per cent, EAC-PM Chairman Debroy hails growth

New Delhi, Mar 1 (KNN) The Third quarter (Q3) estimate of Gross Domestic Product released by the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation estimated the GDP to grow at 7.2 percent Q3 (2017-18).

According to the statistics office, Real GDP or GDP at constant prices has reached Rs 32.50 lakh crore in Q3 2017-18 as against Rs 30.32 Lakh crore in Q3 2016-17. The Real GVA, i.e, GVA at basic constant prices (2011-12) is expected to increase from 112.48 lakh crore in 2016-17 to 119.64 lakh crore in 2017-18.

Commenting on the new number, Chairman of the EAC to PM, Dr Bibek Debroy said that the figures come as a indication that  the economy is in the right track to accelerate.

He further said that the new trajectory of growth indicated that the recent reforms introduced by the government are showing results.

Expressing optimism, Debroy said that the growth is likely to expand further in the upcoming quarter driven by the government commitment to implement structural reforms and aided by higher growth in the industrial and services sector and central government spending.

Responding to the figures, President of industry body PHD Chamber of Commerce President Anil Khaitan said the new figures are inspiring and do spell out positive for the country.

Commenting along similar lines, ASSOCHAM said that the third quarter GDP numbers paint a pretty good macro picture for the country’s economy. (With PIB Inputs) (KNN/DA)