No.PR-152
February 28, 2020
New Delhi
Better GDP growth inspiring, looking forward to a strong rebound in the coming quarters: PHD Chamber
While appreciating the uptick in Q3 GDP growth trajectory, Dr D K Aggarwal, President, PHD Chamber of Commerce and Industry, said in a press statement issued here today that the growth is expected to improve further in the coming quarters.
Plethora of reform measures and focus on consumption demand in the Union Budget 2020-21 will rejuvenate the growth trajectory particularly boost the rural demand and help manufacturing sector to post higher growth, said Dr D K Aggarwal.
GDP growth has improved marginally to 4.7% in Q3 2019-20 as compared to the estimates of Q2 2019-20 at 4.5%, released by MOSPI in the month of November 2019.
The GDP growth in Q3 2019-20 stands at 4.7% supported by growth in the public administration, defence and other services (9.7%), Financial, Real Estate & Professional Services (7.3%), Trade, Hotel, Transport, Communication &Services related to Broadcasting (5.9%), Agriculture, Forestry & Fishing (3.5%) and Mining and Quarrying (3.2%). However, Construction grew at 0.3%, Electricity, Gas, Water Supply & Other Utility Services at (-)0.7%, and Manufacturing sector at (-)0.2%.
Ends.
Media Division
PHD Chamber of Commerce and Industry