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Mixed growth signals (Vital Sectors 4.5% growth (Lower than 6.3% in 2016…
Mixed growth signals
7.7% fastest in 7 quarters
Construction
8% of GVA
Manufacturing
20% of GVA
Pressure Points (estimation of national expenditure)
Private final consumption languishing
59.3% to 54.6 % jan-mar qtr
Lesser govt spending (9.5%)
Price pressure from bullish oil trend
38% contribution to 4th qtr GVA
Grouping 1
Trade
Hotel
Transport
Communications& Broadcasting
Grouping 2
Real Estate
Financial & Professional services
Vital Sectors
4.5% growth
Forestry
Agriculture
Fishing
Lower than 6.3% in 2016-17
Optimistic Outlook
Quarterly momentum sustains
Monsoon pans out as forecasted
Cause of little comfort
Gross Capital Fixed Formation (32.2%)
GCFM reflects investment demand
FINAL THOUGHT
Policymakers need to eschew populism
Stick to fiscal prudence