Reversing the five quarters of slowing GDP growth, Indian economy expanded by 6.3 per cent in July-September on the back of a pick-up in manufacturing.
The gross domestic product (GDP) growth had hit a three-year low of 5.7 per cent in the first quarter of 2017-18. It was 7.5 per cent in the September quarter of 2016-17.
Finance Minister Arun Jaitley hailed the GDP figures saying the most significant aspect is the fact that this quarter's positive result has been impacted significantly by the growth in manufacturing.
Demonetisation and GST's impact is behind us and hopefully in coming quarters, we can look for an upwards trajectory: FM Arun Jaitley in Delhi pic.twitter.com/8rnxtCFBIg— ANI (@ANI) November 30, 2017
According to Central Statistics Office (CSO) data, the economic activities that registered growth of over 6 per cent in the second quarter are manufacturing, electricity, gas, water supply, other utility services and trade, hotels, transport and communication, and services related to broadcasting.
The agriculture, forestry and fishing sector is estimated to have grown by 1.7 per cent.