March 22, 2018, 11:48 am IST
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Economy on the right track, says EAC-PM Chairman

Economy on the right track, says EAC-PM Chairman

 Mar 01, 2018

The Chairman to the Economic Advisory Committee to Prime Minister (EAC-PM) Dr Bibek Debroy on Wednesday said the Indian economy was on the right track to accelerate and the latest growth rate figures reflect that the reforms initiated by the government have started showing results.

The Third quarter (Q3) estimate of Gross Domestic Product released by the Central Statistics Office (CSO), on Wednesday estimated the GDP to grow at 7.2 percent Q3 (2017-18).

Endorsing the uptick in GDP growth numbers, the Chairman further asserted that the growth will pick up more in the upcoming quarter driven by the government commitment to implement structural reforms and aided by higher growth in the industrial and services sector and central government spending.

Dr Debroy said that the GDP trends are consistent with the robust growth of the manufacturing Purchasing Manager's Index (PMI), Index of Industrial Production (IIP) and consumer demand.


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