Take the 70% growth in the ‘valuables’ expenditure component that contributed to the 6.6% estimated headline growth in 2017-18. In fact, the third quarter drop in growth in the spending on valuables coincides with a rise in median inflation expectation. The 4.1% rise in agriculture for Q3 2017-18 and 3% for the year certainly took many of us by surprise. But if you use a purer gauge of economic activity, growth was more modest than what the headline GDP number suggests. However, there’s no denying that economic growth, whatever its gauge, is recovering steadily.

Source: Economic Times March 09, 2018 17:37 UTC