While the GDP growth at 4.5% for the second quarter of the current fiscal is sub-optimal and below the potential of the economy, the industry chamber ASSOCHAM Secretary General Deepak Sood expects the slowdown to be bottoming out. The breakdown of the GDP data does point towards the areas which require immediate and maximum of attention, whether it is agriculture, manufacturing, construction or pure play real estate.
To be fair to the government, it has been taking a series of measures to attend to the weaker links of the economy, said Sood, adding these steps should be having a positive impact after a lag. The ASSOCHAM Secretary General expressed hope that slowdown in GDP growth should be bottoming out. He also attributed the sub-optimal GDP growth to the global slowdown, which in turn has been impacting India's merchandise exports.
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