NITI Aayog VC assures upswing in economy

Responding to the recent surge in India's Gross Domestic Products (GDP) by 6.3 percent in the September quarter, NITI Aayog Vice Chairman Rajiv Kumar assured that the economy is now on an upswing.

"The best news that the economy has turned a corner, it is now on an upswing. We have seen the worst behind us and it is matter of satisfaction that our economy has achieved a 6 per cent growth rate in the first half of the fiscal year," Rajiv told ANI on Thursday.

"Even after such big economic reforms being undertaken, I think the economy has shown a great development. Now we can expect the economy to strengthen in the coming quarters and months", added Rajiv .

Rajiv further said, "Next good news is that domestic investors are going to invest in the nation."

The GDP estimates for the second quarter, which were released on November 30, are reflective of a positive upswing and growth momentum in the Indian economy.

According to sources, the estimates of Gross Domestic Product for the second quarter (July-September) of 2017-18, released by CSO (Central Statistics Office) are in line with the expectations and projections made by the Reserve Bank of India, and other agencies.

The GDP growth has increased to 6.3 percent (up from 5.7 percent for the first quarter (Q1) of 2017-18). The GVA (Gross Value Added) growth has been recorded at 6.1 percent (up from 5.6 percent for the same period).