GDP growth at 7.4% in line with expectations: PHD Chamber

GDP growth at 7.4% in line with expectations: PHD Chamber

GDP growth at 7.4% in line with expectations: PHD Chamber

 

No.PR-150
November 30, 2015
New Delhi

 

GDP growth at 7.4%  in line with expectations: PHD Chamber
 

GDP growth at 7.4% in Q2 of FY2015-16 is inspiring and is in line with expectations, but there is a lot of potential to enhance our GDP in the coming times with effective implementation of dynamic reforms announced by the government during the recent months, said Dr. Mahesh Gupta, President, PHD Chamber of Commerce and Industry in a press statement issued here today.
 

The GDP in Q2 2015-16 has grown at 7.4% as compared to 7.1% in Q1 2015-16.
 

Manufacturing sector growth at 9.3% in Q2 FY2015-16 is encouraging which indicates that the efforts of government to bolster manufacturing sector are becoming visible, said Dr. Gupta.
 

We look forward to more sound manufacturing growth in the coming times with increased share of manufacturing sector in GDP which is the prime objective of Make in India programme of Government of India, added Dr. Gupta.
 

However, the poor growth of construction sector must be looked in as the sector is crucial to generate employment opportunities for skilled and unskilled workforce, said Dr. Mahesh Gupta.
 

Reforms in the construction sector are the need of the hour, he added.
 

Reforms in the agriculture sector would be critical to strengthen the growth of the sector and to address the supply side bottlenecks, he said.
 

Growth of the private  final consumption at 6.8% at constant prices is an indication of revival in demand and so will be the industrial activity in the coming times, said Dr. Gupta
 

Going ahead, PHD Chamber looks forward to a dynamic implementation of the dynamic policy environment created by the Government to pave the way for a higher growth trajectory in the coming times.
 

ENDS.

Koteshwar Prasad Dobhal
Consultant (PR)