India'sGDP growth decelerated to a 5.7% year-over-year rate in the April to June quarter from 6.1% in the preceding quarter, according to the Government's Ministry of Statistics and Programme Implementation.
In terms of Gross Value Added (GVA), which excludes indirect taxes and subsidies, the growth was even lower at 5.6 per cent over the GVA for the corresponding quarter of a year ago. The economy had expanded at 6.1 per cent in the March quarter and at 7.9 per cent in the April-June quarter of the previous year.
The GDP was 7.90 per cent in the same quarter past year.
An exports slowdown dented GDP growth by 2.6 percentage points in the last quarter.
In contrast, the Indian economy had expanded 7.9 percent expansion in the same quarter past year.
Uncertainty about new indirect tax rates under GST prompted a host of industries, including carmakers, FMCG companies and garment manufacturers, to clear their stocks. "The slowdown reflects sharp deceleration in exports of goods, and some moderation in consumption growth", it said.
"Slowdown of the economy was witnessed after the second quarter a year ago itself".
India aims to trim the fiscal deficit to 3.2 percent of gross domestic product in 2017-18 compared with 3.5 percent in the previous year.
Though it is unlikely that the effect of demonetisation and the GST will be felt in the next quarter's GDP growth, especially because of a normal monsoon in the Kharif season, but you never know, when the Indian PM decides to come up with another "historic" idea and leaves the whole country surprised and shocked. Cash-intensive sectors, including construction and real estate, that bore the brunt of demonetisation impact appear to be recovering smartly.
Icra's Aditi Nayar noted that the pace of growth of industry and agriculture was lower than anticipated whereas the service sector's growth exceeded the rating agency's forecast.
Another important matrix - gross fixed capital formation (GFCF) - that reveals corporate investment, also showed a dip.
Using the new bankruptcy law, the central bank has prodded banks to initiate insolvency proceedings against 12 large corporate defaulter to resolve Rs 2 lakh crore or nearly a fourth of the country's bad debt.
When Prime Minister Narendra Modi made the shock announcement on November 8 that 500 and 1000 rupee notes (about 7 and 15 dollars) would no longer be legal tender it was estimated that the cash in circulation in the high value notes was worth 15.4 trillion rupees. But before that happens, policy actions and investment are both needed to ensure that economic growth picks up, he said.
As we are already aware OEM's are expected to pull the wraps from their headsets on October 17 while the others will follow suit. For most consumers, both quality and feature updates are delivered automatically according to their Windows Update settings.
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He added that he can "look forward to Uber and know that I will make a difference, hopefully for the better". As the court recognized, this is a bilateral dispute between Benchmark and Travis Kalanick .
The Gunners are intent on keeping Sanchez despite strong interest from City, who are widely reported to have tabled a £50m offer. The player thanked them and the coaches at the Emirates but felt he was ready to move on to the next stage of his development.
After the note ban, old notes were allowed to be deposited in banks, with unusual deposits coming under income tax scrutiny. The RBI ended up spending over Rs 30,000 crore on the printing of new notes and managing the logistics of demonetization.
On both iOS and Android, Sarahah asks user permission to access phone contacts so it's not as if this is completely surprising. At the same time, it is also worth noting that the app does work well even when users don't allow the app to access contacts.
Simona Halep , now ranked #2 among the female players in the world, will face Sharapova in that opening round. But it shouldn't happen because of the lack of matches. "I don't think we're both thinking that far ahead".
The video opens with a gravestone reading "Here Lies Taylor Swift's Reputation ", and an undead Taylor sings the opening lyrics. Instead, she "re-claimed the snake" and doesn't give a damn about the thousands of people who called her one.
A double-fault set up the teenager's only break point and a backhand error in the ensuing point from Kerber gave Osaka the break. The game could be better. "After Wimbledon I was actually confident, because I was practising good".
The sensors include an accelerometer, ambient light sensor, gyroscope, infrared, magnetometer, and proximity sensor. It will be a global launch event and XIaomi fans can also register on the website to get an invite to the launch.
Gas Prices Are Going Way Up in Mississauga
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Packers to sign LB Brooks
Even if Brooks is limited to being a role player, he will fit in nicely with what the Packers need to succeed on defense in 2017. Former San Francisco 49ers linebacker Ahmad Brooks is signing with the Green Bay Packers , with whom he visited this week.
President Trump Pushes Tax Reform In Missouri Speech
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