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March 20, Tuesday 2018 9:25 PM       

       HEADLINES: C K Vineeth and Ian Hume unhappy about changing venue of India Vs WI ODI                                              Something fishy about KCA's decision to shift one-day match to Kochi: Tharoor                                              It is not birds but vultures who are striking at Keezhattur: G Sudhakaran                                              Missing foreign woman: Relatives announces reward                                              T R Chandradath passes away                                              Sasikala granted 15-day bail for husband's funeral                                              I had been saying all 39 others were dead: Lone survivor Harjit Masih                                              Can’t declare anyone as dead without proof: Sushma Swaraj                                              Altaf Hussain vows to transform Pak into true welfare state                                              Is Facebook's security chief leaving after clash over Russian disinformation?                                              Trump plans to hit China with $60 bn in annual tariffs                                              China's Belt and Road Initiative heightens debt risks in 8 countries                                              White House bans Venezuela's digital currency                                              Cricket betting racket busted, 4 held                                              ICC WC Qualifiers: Samuels guides Windies to thumping win over Zimbabwe                                              BCCI confirms Shami stayed in Dubai hotel for 2 days                                              Kaumudi Facebook
       BUSINESS Next Article: Foreign exchange earnings witness 9.9% jump in Jan '18  
       Q3 growth marks 'turnaround' in India's economy
         Posted on :18:21:54 Mar 1, 2018
       Last edited on:18:21:54 Mar 1, 2018
         Tags: Q3 growth marks 'turnaround' in India's ec
New Delhi: The Finance Ministry on Wednesday said a robust growth in manufacturing and significant acceleration in construction have marked a turnaround in the country's economic growth momentum.
"Heralding an improvement in the investment climate, real gross fixed capital formation is estimated to grow at a robust 7.6 per cent for 2017-18, accelerating from 6.9 per cent in Q2 2017-18 to 12 percent in Q3 2017-18," a statement by the Ministry read.
It further stated that the Second Advanced Estimates released by the Central Stastical Organisation (CSO) indicated a broad-based and significant acceleration of real economic activity as projected in the Economic Survey.
Estimates for real Gross Domestic Product (GDP) growth for 2017-18 have been revised upwards to 6.6 per cent, compared with 6.5 per cent in the First Advance Estimates.
Similarly, real Gross value added (GVA) growth for 2017-18 were revised upwards from 6.1 per cent to 6.4 per cent.
Real GDP growth for the third quarter was estimated at 7.2 per cent, up from 6.5 per cent in the second quarter; real GVA growth has accelerated from 6.2 per cent in Q2 2017-18 to 6.7 per cent in Q3 2017-18.
The Ministry added that the growth acceleration were sectorally broad-based with manufacturing growth estimated at 8.1 per cent for Q3 2017-18, up from 6.9 per cent in Q2 2017-18; construction growth at 6.8 per cent in Q3 2017-18, up from 2.8 per cent in Q2 2017-18; and services growth projected to accelerate to 7.7 per cent in Q3 2017-18 from 7.1 per cent in Q2 2017-18.
Next Article: Foreign exchange earnings witness 9.9% jump in Jan '18
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Can there be conspiracy behind the move to shift India-West Indies one-day cricket match from Thiruvananthapuram to Kochi?
No opinion
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