‘A pleasant surprise’“The GDP numbers are definitely a surprise, but a pleasant surprise,” said Madan Sabnavis, Chief Economist at Care Ratings. For Q3, the GVA growth rate is estimated at 6.6%, down from the 7.1% reported in Q2. “Subsidies show a negative growth and indirect tax collections showed positive growth, so GDP growth has remained the same.”Sectoral growthThe second advance estimates show the agriculture sector faring better than estimated in January with growth at 4.4%, compared with the first advance estimates which had predicted a growth of 4.1% for the sector. The second advance estimates peg manufacturing growth for the full year at 7.7% compared with 7.4% predicted by the first advance estimates. “The advance estimates of agricultural growth now show a higher growth than they had shown earlier,” Mr. Anant said.

Source: The Hindu February 28, 2017 13:14 UTC