A mixed bag of economy that India holds

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New Delhi:

The economic situation in the country is a mixed bag, neither alarming as the Opposition would have us believe, nor rosy as the Narendra Modi government would claim ad nauseam. There are some positive signals which are tempered by some negative ones.On a hopeful plane, the country’s GDP rose to a seven-quarter high of 7.7 per cent in January-March, 2018 following a good rabi harvest and an upturn in the manufacturing and construction sectors. This is good news for the government when the general elections are less than a year away. Doomsday forecasters who saw demonetisation of high currency notes and the introduction of GST (Goods and Services Tax) as veritable disasters must wake up to the fact that as predicted by independent experts, the downturn due to GST was temporary and has been got over.The GST collections which averaged Rs 89,885 crore monthly in 2017-18 were higher at Rs 94,016 crore in May, indicating that GST is stabilising and the economy is picking pace.

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