MP CM hails GDP growth

Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Thursday said latest Gross Domestic Product (GDP) estimates show economic activities are increasing in the country.

Chouhan's statement comes hours after the Ministry of Statistics and Programme Implementation (MOSPI) said India's GDP growth has recovered to 6.3 percent in the second quarter from a three-year low of 5.7 percent in first quarter.

Speaking to ANI, Chouhan said "GDP growth rate is increasing and it is a proof of the fact that economic activities are increasing in the country".

Earlier in the day, Union Finance Minister Arun Jaitley hoped that the GDP will further improve in the coming quarters.

The Finance Minister was responding to the real GDP growth data for the Second Quarter of Fiscal Year 2017-18 which was released here today by the CSO (Central Statistics Office).

The GDP is the monetary value of all the finished goods and services produced within a country's borders in a specific time period.

India's GDP growth has recovered to 6.3 percent in the second quarter from a three-year low of 5.7 percent in first quarter.

The second quarter estimates are based on agricultural production during Kharif season of 2017-18 obtained from the Ministry of Agriculture, Department of Agriculture & Cooperation (DAC), abridged financial results of listed companies from BSE/NSE, Index of Industrial Production (IIP), monthly accounts of Union Government Expenditure maintained by Controller General of Accounts (CGA) and of State Government expenditure maintained by Comptroller and Auditor General of India (CAG).

Performance of key indicators of sectors like transport including railways, road, air and water transport etc., communication, banking and insurance during the period July-September 2017 have been taken into account while compiling the estimates.