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GDP at 7.7%: Sajjid Chinoy, Soumya Kanti Ghosh and Shubhada Rao decode the numbers

Updated : May 31, 2018 08:32:14 IST

Fourth quarter GDP numbers came in at 7.7 percent, higher than CNBC-TV18's poll of 7.4 percent.

CNBC-TV18 caught up with Sajjid Chinoy Chief India Economist JPMorgan, Soumya Kanti Ghosh Chief Economic Advisor SBI and Shubhada Rao Chief Economist Yes Bank to decode the state of the Indian economy.

Growth for FY18 as a whole came in at 6.7 percent, in line with CNBC-TV18 poll. This number however is the lowest annual growth rate in the Modi regime.

GVA-growth for fourth quarter came in at 7.6 percent, but this is on a low post demonetisation base of 6 percent in January-March of 2017.

Robust growth in sectors such as agriculture, manufacturing and construction were the biggest contributors to the overall growth in the January-March quarter. Also at long last capital expenditure or gross fixed capital expenditure appears to have picked up both in FY18 as a whole and more importantly in fourth quarter of FY18, indicating that if capital investment has started, we have better prospects of growth going forward.

 
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