GDP ( 4.7% 2014) growth disappointing: PHD Chamber

ThePresident( PHD) Mr. Sharad Jaipuria said  Growth of India’s real GDP at 4.7% in Q3 of Financial Year 2014 is disappointing as the industry was in anticipation of higher growth in the second half of the current financial year,

 Negative growth in manufacturing (-1.9%) and mining (-1.6%) and slow growth in agriculture sector (3.6%), trade and hotel services (4.3%) and construction activities (0.6%) has undermined the performance of overall GDP growth, he said.

 The growth of core infrastructure also disappoints as the growth stands at 1.6 % in January 2014 as against 2.1% in December 2013. The sector is impacted by negative growth in natural gas (-5.2%), refinery products (-4.5%) and coal (-0.7%). Also fertilizers at 1.2% and electricity at 5.7% sectors have shown decline in growth rates in January 2014 as compared with the 4.1% and 6.7% respectively in the previous month December 2013.

PHD Chamber looks forward to rapid economic reforms and effective implementation of reforms in the coming times that would spur us on to articulating clear priorities in the coming times and for building a consensus towards speedy socio-economic development of the country, said Mr. Jaipuria

 Reported : Koteshwar Prasad Dobhal ( Consultant (PR)