China remained ahead of India for a third quarter in a row in July-September, posting 6.8 per cent growth. The country's fiscal deficit crossed 96 per cent of Budget estimates at October-end. The Government data released on Thursday, no doubt, showed a positive sign of growth trajectory, overcoming teething troubles after the bumpy launch of Goods and Services Tax (GST).
However, it can not be said now whether this will mark an upward trend in the growth rate.
The economic growth rate had slipped to three-year low of 5.7% in the first quarter of 2017-18 financial year.
He further said that the two structural reforms - GST and demonetisation - will benefit the economy in the medium and long-term.
Reacting to the GDP growth, Chief Statistician TCA Anant hinted that the numbers could be revised upwards as businesses uncertain of the new GST regime may have accounted for lesser taxes.
While manufacturing grew rapidly at 7% in the September quarter from merely 1.7% in the first quarter (April-June), the growth in electricity and other utilities was recorded at 7.6% and it was nearly 10% in trade, hotel, transportation and communication.
While investment grew by 4.6 per cent in Q2 compared to 1.6 per cent in the first quarter on a year-on-year basis, its share in GDP fell to 27.5 per cent from 29.9 per cent in Q1, indicating that GST-related stress in the economy had not dissipated.
"Manufacturing reported growth of 7 per cent, electricity, gas and water supply at 7.6 per cent, and trade, hotels, transport and communication grew at 9.9 per cent", he said. The finance minister said a cogent GST mechanism has been developed and no country in the world has 5 per cent tax rate. "Gross fixed capital formation has also picked up from last year's lacklustre pace".
Former finance minister P Chidambaram, a senior leader of the opposition Congress Party, said the result was "far below the promise of the Modi government and far below the potential of a well-managed Indian economy".
"We expect the growth to pick up to 7.6 per cent in the second half of this fiscal, helped by low-base effect of the second half of fiscal 2017", the ratings agency said in a statement.
The agriculture, forestry and fishing sector is estimated to have grown by 1.7 percent.
Mining also posted a sharp uptick in growth to 5.5 per cent from a decline of 0.7 per cent in the previous quarter.
Currie flew back earlier Friday to Knoxville after interviewing Washington State coach Mike Leach on Thursday in Los Angeles. Butch Jones was sacked as coach after a blowout loss to Missouri; Tennessee finished its season 4-8 (0-8 in SEC play).
Prince William had reacted to brother Prince Harry 's engagement to Meghan Markle after arriving in Finland on Wednesday. Kate is pregnant with the couple's third child. "We're very excited, delighted for them both", said William.
The Prime Minister said: "As the European Union themselves have said, nothing is agreed until everything is agreed". They also asked people on the street to see if they could draw Ireland's border with Northern Ireland.
You can't help but feel sympathy for the Clippers but it may be time to think about rebuilding and looking towards the future. The departure of Chris Paul led the team to splash out on Griffin as they were desperate to keep one of its stars.
Miami slipped after taking its first loss of the season last week from No. 2 to seventh, just ahead of Ohio State at eighth. Barrett has a chance to win another Silver Football, the award given by the Chicago Tribune to the Big Ten's best player.
This will mean that the on the night of the December 3 the moon will be seven per cent larger and 16 per cent brighter than usual. If you want to celebrate the year's most super supermoon as a holiday for moongazers, I don't see anything wrong with that.
Content and data sync seamlessly in the background, so users can browse across devices, without skipping a beat. While Edge gets a lot of flak, and I've yet to try the iOS version, the Android app has been top notch so far.
It puts all messages and Stories from friends to the left of the camera , sorted by who you talk to and view most. Upon opening the new Snapchat app, you'll be met with the familiar screen of your camera's viewfinder.
Expect a high in the upper 60s in most communities, but a few spots might briefly touch 70ºF or 71ºF before the sun sets. A storm will develop well off the East Coast by several hundred miles, therefore having no impact on our weather.
At Vizhinjam, a woman was crushed under a tree, while in Kollam, an auto driver died after a tree fell on his auto. Around 15 houses were damaged and the residents were evacuated by the police and the Fire and Rescue Services.
Tiger tied for lead in Nassau
Four hours of a solid round of golf lowered Woods' odds of winning the Masters from 66-1 to 33-1, according to Vegas Insider . So to see Tiger go out and play well doesn't surprise me.
Health officials warn of 'severe' flu season
Trivalent vaccine The traditional vaccine created to protect against three different flu viruses-two A viruses and one B virus. Health officials say the deaths of two people due to influenza are the first flu-related deaths in Oklahoma this season.
New BMW i8 Roadster Gets Official
In electric-only mode, the top speed is 120km/h, while the driving range is now up to 53km in the soft-top, and 55km in the coupe. The new BMW i8 Roadster has been unveiled alongside the updated BMW i8 Coupe at the 2017 Los Angeles motor show .
After Record Black Friday, How Will Cyber Monday Fare?
From Thanksgiving Day through Cyber Monday , the average shopper spent $335.47, with $250.78, or 75 percent, going toward "gifts". Adobe Analytics estimated that the USA holiday season would deliver $100 billion in sales for the first time.