GDP to recover in 2nd quarter as fundamentals strong: Prasad

Businesses with annual turnover of up to Rs 1.5 crore, which constitute 90% of the taxpayer base

Union minister Ravi Shankar Prasad on Saturday tried to deflect the criticism arising from the steep fall in growth numbers, saying decline in GDP growth in Q1 is temporary and that the economy will bounce back in the second quarter as the macro fundamentals are strong.
 

Since the macro fundamentals of the economy are very strong, growth will definitely recover going forward, Prasad who heads the IT and law and justice ministries, said here.

“The GDP grew 7.5 per cent in 2014-15, 8 per cent in 2015-16 and 7.1 per cent in 2016-17. Only in one quarter, that is the