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At 7%, Q3 GDP growth beats note ban blues, manufacturing biggest surprise

Manufacturing, agriculture drive higher-than-expected numbers

Arup Roychoudhury & Indivjal Dhasmana  |  New Delhi 

Gross domestic product (GDP) for the third quarter (Q3) of financial year 2016-17 (FY17) grew at 7 per cent, allaying fears of any major effect of demonetisation though it was the lowest expansion in four quarters.  Private final consumption expenditure, denoting demand, rose at double the rate (10 per cent) in Q3, against five per cent in Q2. The Q3 numbers not only made India the fastest-growing large economy in the world but also helped the Central Statistics Office (CSO) retain its earlier projection (in first advance estimates) for full-year GDP growth at 7.1 per ...

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First Published: Wed, March 01 2017. 08:48 IST