GST impact in Q1 will pull down GDP for whole year

The note comes days after the Central Statistical Office came out with its advanced estimates of growth for FY18 suggesting a slowdown in GDP expansion to 6.5% the lowest in four years

In the first half (April-September) of the financial year ending 31 March, the economy grew at 6%, indicating that it will accelerate in the second half (October-March) of the financial year.

The overall GDP growth rate projected was lower than what was forecasted by the Economic Survey in the range of 6.75-7.5 per cent and this gives a reason to analysts for believing that because of these statistics and the fact that if projections of the International Monetary Fund come true, India might lose the tag of being the fastest-growing large economy to China.

Meanwhile, agriculture is expected to grow by a mere 2.1 per cent this fiscal, while manufacturing is estimated to expand by 4.6 per cent. "Confirms strong turnaround of the economy", economic affairs secretary Subhash Chandra Garg said in a post on Twitter.

The government's statistics wing will have data only for additional one or two months than what it had for its second quarter (July-September) GDP estimate to make the full-year GDP growth projection.

According to Chief Statistician T.C.A. Anant, the de-stocking disruption caused due to the GST implementation has impacted the full-year Gross Domestic Product (GDP) estimates.

Manufacturing: Manufacturing is likely to decelerate sharply to grow at 4.6%, compared with 7.9% a year ago.

Father Of Slender Man Attacker On New Movie: 'Extremely Distasteful'
In the meantime, check out our 2018 release list to plan your other trips to the movies in the New Year. The upcoming Slender Man project will mark the character's first appearance in a feature-length film.

The estimate will play a crucial role in the finance ministry before presenting the Budget 2018 on February 1.

The first advance estimates show nominal GDP at Rs 166.3 lakh crore, a 9.5% increase over past year.

Unfazed by the official GDP figures showing that the Indian economy will grow at a slower pace compared to the last fiscal, NITI Aayog Vice Chairman Rajiv Kumar said the GDP growth will become more robust in 2018-19. The economy grew at 7.1% in 2016-17. This is less than half of the last year's growth rate of 4.9%.

The GDP data could be revised upwards as the current projections are based on incomplete output and corporate income data, amid signs that people are buying more goods and companies are adding new capacities to meet growing demand.

The Gross Value Added (GVA) has been projected to be at 6.1 per cent versus 6.6 in the previous year.

"Q3 numbers should be higher than 6.5 per cent and Q4 numbers will be close to 7 per cent", Debroy said. It was also 0.1 per cent higher than the consensus forecast from a poll of city economists.

Related News:

  • Not a record, but mighty hot: Sydney weather reaches 47 degrees

    Not a record, but mighty hot: Sydney weather reaches 47 degrees

    Sydney Cricket Ground is about midway between two weather stations where temperatures reached 43.4 degrees and 43.7 degrees. A 48-year-old is fighting for his life after he was found face down in the water at Sandon Point Beach on Saturday.

    "The Mayor" Canceled, Pulled From ABC Schedule

    It costars Lea Michele , Bernard David Jones , Marcel Spears , Yvette Nicole Brown , and David Spade . The future for the show wasn't overly bright even before ABC pulled it late Thursday.
    Nintendo set to sell neon 'Splatoon' Joy-Con controllers in the US

    Nintendo set to sell neon 'Splatoon' Joy-Con controllers in the US

    As you can see above, the green Joy-Con in the Splatoon 2 bundle is the left controller, while the pink Joy-Con is on the right. EBGames thought the Joy-Cons would be available today, but instead we just get confirmation that the new colors are coming.
  • Derrick Henry's big run puts the Titans back in the game

    However, Triplette ruled that Mariota's forward progress had been stopped, which means the play was not subject to review. Think of the fantasy football points! Mariota caught HIS OWN PASS and scored for the Titans first touchdown.
    Twitter says it won't block tweets from world leaders

    Twitter says it won't block tweets from world leaders

    Elected world leaders play a critical role in that conversation due to their outsized impact on our society. No one person's account drives Twitter's growth, or influences these decisions.

    Figure skating - Tennell, Nagasu and Chen make United States team

    In September 2017, Nagasu became just the third US woman ever to land a triple axel, a jump she will take with her to PyeongChang. Chen was the defending national champion, finished fourth at the world championships past year and beat Wagner again on Friday.
  • 'The Crown': Helena Bonham Carter Gears Up to Play Princess Margaret

    But the excitement of it so far has been introducing new names, like Foy and Kirby. But the Harry Potter actress certainly has the haughtiness of the Princess.
    NFC Wild Card Preview: Carolina Panthers vs. New Orleans Saints

    NFC Wild Card Preview: Carolina Panthers vs. New Orleans Saints

    The Saints opened as four-point favorites; the total was 49 early in the week, according to sportsbooks monitored by OddsShark. Everything is set up for New Orleans to at least make it to the NFC Championship Game, and Brees is not getting any younger.
    Jimmy Iovine plans to leave Apple Music in August

    Jimmy Iovine plans to leave Apple Music in August

    Jimmy Iovine has helped Apple Music reach 30 million paid users, nearly half way to Spotify's 70 million monthly paid subscribers. One of the chief architects of Apple's ( NASDAQ:AAPL ) push into streaming music appears set to leave the company this summer.
  • Kyrgios powers to Brisbane title

    Kyrgios powers to Brisbane title

    There will be no all-Australian final after Harrison ended Alex de Minaur's dream run. Like Kyrgios, Peers says a Davis Cup breakthrough is not out of question.
    How One Book Cracked Trump's Base

    How One Book Cracked Trump's Base

    Reagan announced his diagnosis in a letter to the American people in 1994, more than five years after leaving the White House. White House officials and Trump's high-profile supporters have launched an effort to raise doubts about Wolff's credibility.

    Jumanji outpaces rivals at Box Office

    It's estimated that The Last Jedi will only get $5 million in its opening Friday making its debut only second this week in China. Last year's " Rogue One " posted an underwhelming $30.1 million opening weekend leading to an ultimate gross of $69.5 million.

Most liked

LaVar Ball Says Lakers No Longer Want To Play for Luke Walton
"That's what they do.' And it's our job as coaches and an organization to do what's best for our team and our players". They don't know how to coach my son", he said in November, per Eric Pincus of Bleacher Report.

Son's super strike rescues a point for Spurs
The draw meant Tottenham only closed the gap on Liverpool in the fourth Champions League qualification place to three points.

Cooper: Trump farms out voting fraud probe to Department of Homeland Security
The White House announced tonight it is disbanding the Presidential Advisory Commission on Election Integrity . State election officials rejected requests for their voter rolls as invasions of privacy.

Here's the Very Likely End Date for 'The Big Bang Theory'
The Big Bang Theory prequel also ranks as the #2 comedy among all network comedies, behind only the series that spawned it. CBS also reports Young Sheldon is the most-watched new comedy series on any network in 18 years.

Republican wins lottery-style drawing for control of Virginia statehouse
The drawing of lots took place after an election, recount and legal battles between Yancey and Simonds ended in a tie. The Republican in that race, Robert Thomas, was certified as the victor in late November over Democrat Joshua Cole.

Passengers remain stranded at JFK airport: 'It's complete chaos'
The Port Authority, which oversees operations at JFK, did not immediately respond to a question for comment on the ongoing delays. According to air travel tracking service Flightradar 24, dozens of planes had the same issues after landing.

Canada's Ellen Page Reveals She Married Emma Portner
The Hollywood actress famously came out as gay during a Human Rights Campaign event on Valentine's Day in February 2014. She said that she hoped her experience would help other struggling with their sexuality.

Isaiah Thomas Explains Why He Didn't Want Video Tribute from Celtics
At 25-13, Cleveland is now sitting in 3rd place in the Eastern Conference, 4.5 games back of the 31-10 Celtics. Paul Pierce , then with the Clippers, squared off with Isaiah Thomas , then with the Celtics, in a 2016 game.

Travis Kelce ruled out of Wild Card game with concussion
Kelce has dealt with concussions earlier this season when he took a hard shot in Kansas City's primetime win over the Texans. The Chiefs continued their drive after Kelce was injured and extended their lead before the break.

Fixer Upper' stars Chip and Joanna Gaines Expecting 5th Baby
So if Chip and Joanna did, in fact, conceive the baby she's carrying that night she's about 12 weeks into her pregnancy. But, she later said, "Emmie has never really wanted one, and now she's like, 'Okay".

OnePlus 5T gets a hot limited edition Sandstone White finish
That unique texture that customers could enjoy when buying a sandstone smartphone seems to be very popular among OnePlus fans. OnePlus has taken to twitter again today, not to tease us but to officially announce the Sandstone White OnePlus 5T .

PM Modi To Address Top-Level Police Conference In Madhya Pradesh
He said, the Government is focusing on identifying the aspirations of people of the districts which are lagging behind.

Cuomo Promises to Sue Over New Tax Law
Still, there are plenty of unanswered questions, including the legality of the ideas and how the federal government would respond. RoAnn Destito, commissioner of the New York State Office of General Services, was in Utica today to present Gov.

Khloe Kardashian Told Her Crew She Was Pregnant Before Her Actual Family
According to People Magazine , Kardashian wrote on her website that she is eating differently , but she definitely has cravings. DeGeneres tried to get Kardashian to call her sister to ask her herself, but eventually said , "She must be pregnant".

Karl Rove: Steve Bannon Has Marginalized Himself
Breitbart's representatives, including editor Alex Marlow, did not return repeated requests for comment on Thursday. After leaving the White House, Bannon reportedly spent five days in Long Island meeting with the Mercers.