Govt’s reforms to push economic growth are working: FM Jaitley

Union Finance Minister Arun Jaitley, Arvind Subramanian and Hasmukh Adhia addressed the media after the new GDP growth figures for Q2 were released earlier today.

Explaining the reasons behind the GDP growth FM said, "the most significant aspect is the fact that this quarter's positive result has been impacted significantly by the growth in manufacturing".

In July-September, auto sales, manufacturing, electricity generation grew more quickly than in the previous quarter.

The recent GDP nunbers marks the reversal of trends, said Arun Jaitley.

Finance Secretary Hasmukh Adhia, said that the gross domestic product number may go up when it is finally revised.

FM Arun Jaitley was also positive about higher growth rates in the 3rd and 4th quarter.

Arun Jaitley also said that demonetisation and GST's impact is behind us and hopefully in coming quarters, we can look for an upwards trajectory.

Reversing five quarters of slowing GDP growth, the Indian economy expanded by 6.3 per cent in July-September on the back of a pick-up in manufacturing.

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.

(With Inputs from PTI)