West Bengal Chief Minister Mamata Banerjee today said the 6.3 per cent GDP growth in the September quarter was "no growth", and hit out at the Centre for "only talking" and not performing.
Reversing a five-quarter slide in GDP growth, Indian economy bounced back from a three-year low to expand by 6.3 per cent in July-September as manufacturing revved up and businesses adjusted to the new GST tax regime.
The gross domestic product (GDP) growth had hit a three-year low of 5.7 per cent in the first quarter of 2017-18. It was 7.5 per cent in the September quarter of 2016-17, data released by the Central Statistics Office (CSO) showed.
"GDP figures out. Again no growth. No jobs. Effects of note ban scam and unplanned GST continue to damage economy. Only talking. No performance," Banerjee said in a tweet.
According to the CSO release, the economic activities that registered growth of over 6 per cent in the second quarter are manufacturing, electricity, gas, water supply, other utility services and trade, hotels, transport and communication, and services related to broadcasting.
Union Finance Minister Arun Jaitley had earlier in the day said that improved macroeconomic fundamentals have placed India on a 7-8 per cent growth trajectory.
He added that the country needed big infrastructure investments over next two decades to evolve into a middle income economy and then into a developed one.
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