Jaitley indicates merger of 12 per cent, 18 per cent GST slabs

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In the previous quarter January-March, the growth rate had come down to 6.1 per cent. "The numbers indicated that the impact of demonetisaton and GST (Goods and Services Tax) are behind us", he added.

Jailtey said achieving a 10% economic growth rate is "very challenging" and double-digit GDP growth will depend on how the world economy moves. In the fourth quarter of 2013-14, economy had grown at 4.6 per cent.

"GDP growth recovers to 6.3% in Q2 from a 3-year low of 5.7% in Q1".

"It is likely that when revised estimates are prepared, indirect tax collections for this period may actually be higher than what we have reported", Anant said at a press conference while admitting that the GST introduced a "certain level of statistical challenge" in compiling the growth numbers.

"Buoyed by the overall improved GDP number, Finance Minister Arun Jaitley said, "perhaps the impact of two structural reforms â€" GST and demonetisation were behind us".

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Jaitley further said, "Government's reforms to push economic growth are working, (and it) can be seen from that: manufacturing has shown robust growth of 7 per cent in Q2 and services at 7.1 per cent. Gross fixed capital formation has also picked up from last year's lacklustre pace".

Former finance minister P Chidambaram, however, said 6.3% growth was "far below the promise of Modi government and potential of the well managed Indian economy".

India's economy grew 6.3 percent in the three months ending in September from a year earlier, in line with expectations and faster than a provisional 5.7 percent in the previous quarter, government data showed on Thursday. The reasons for the foreseen growth recovery are many: a rise in industrial production and exports, restocking by businesses after the transition to GST and some major festivals that would have boosted consumer demand.

As far as the CSO data is concerned, agriculture growth slumped to 1.7 per cent, but the economic activities that registered growth of over 6 per cent in the second quarter of 2017-18 year-on-year are manufacturing, electricity, gas, water supply and other utility services, trade, hotels, transport and communication and services related to broadcasting.

GDP growth in the first half of the fiscal stood at 6 per cent versus 7.7 per cent in H1 past year. Manufacturing grew 7% while agriculture growth was 1.7%, down from 2.3% in the trailing quarter.

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