"Given that we don't see a runway concern on inflation even after accounting for the rupee depreciation, we don't expect the Reserve Bank of India to raise rates now".
India's GDP expansion is back on track after a rocky start to economic reforms implemented by Prime Minister Narendra Modi.
Another important metric to watch for private investment - gross fixed capital formation (GFCF) - accounted for 31.6% of GDP during the quarter, higher than 31% in the same period past year.
Stressing on the growth of capital formation, the DEA secretary noted, "There has been a robust capital formation as we grew by 10 per cent in this quarter, building on the last quarter growth of 14.4 per cent". He was responding to a query about senior Congress leader P Chidambaram expressing scepticism over India's GDP growth prospects, saying it would "not be so favourable" in third and fourth quarters, despite the GDP growing at 8.2 per cent in the current fiscal's first quarter.
Industry chamber Assocham said the best part about an impressive GDP growth "is that it is being led by employment-intensive manufacturing".
"Indian Economy would continue to be a fastest growing economy in the world".
"The numbers are pretty solid and mostly driven by public investment and higher consumption, especially, in the rural-end with this being a pre-election year", said Shashank Mendiratta, India Economist, ANZ Bank told Reuters.
The high growth for this quarter in India is partly a result of the low base effect. "FY'19 growth forecast is 7.4%", he said in a note on Friday morning.
At 8 percent, GVA growth at two-year high in Apr-Jun quarter.
Friday's 8.2 percent figure was above the median estimate of a survey of economists by Bloomberg, which had predicted of 7.6 percent.
GDP at constant (2011-12) prices in quarter one of 2018-19 is estimated at Rs.33.74 lakh crore as against Rs.31.18 lakh crore in the same period previous year, the data revealed.
The sectoral analysis shows that, the manufacturing is the main driver of the growth in Apr-Jun quarter. Construction is the second most sector that recorded a rise of 8.7 percent in Q1-FY19 as against 1.8 percent in Q1-FY18. The growth in mining and quarrying activities too was slower.
The Quarterly GVA at basic prices for Q12018-19 from "agriculture, forestry and fishing" sector grew by 5.3 per cent as compared to growth of 3 per cent in Q12017-18.
GVA, which is GDP minus taxes, serves as a more realistic proxy to measure changes in the aggregate value of goods and services produced in the economy.
The growth in the manufacturing sector is also broadly in line with shop-end sales, with auto sales reporting record growth numbers, aided by greater disposable income or expectations of higher income in the coming months.
Lula reportedly chose Fernando Haddad, former mayor of São Paulo, to run for the PT should he be prevented from doing so. After several hours of debate late Friday, five justices had voted against da Silva's candidacy and just one in favour.
Barnier repeated his concern that a "backstop" deal on the border is essential to to get to a broader Brexit deal. "This includes the no-deal scenario...because at the moment we are not ready to reach an agreement".
You can also see visual responses from Google Assistant on your television screen, thanks to Chromecast and Google Home . If you live in a bilingual household and own a Google Assistant speaker, you'll love the assistant's latest update .
Patten was released on his own recognizance but can not travel outside the Washington area without notifying the court. Patten's case was referred by special counsel Robert Mueller , according to an official with the US Attorney's office.
Over the span of the last two years, Irvin has tallied 115 combined tackles, 15 for loss, 15 sacks and 10 forced fumbles. After a franchise-altering Saturday morning, the Bears that we have come to know in the last three seasons are no more.
She said she believes new mothers should be more prepared for the fact that it can take time to recover from childbirth. Six-time victor Serena Williams reached the US Open quarter-finals with a 6-0 4-6 6-3 victory over Kaia Kanepi .
The Gunners boss was impressed by the attacking midfielder in pre-season and is expected to hand him some game time this term. The same can be said of Aaron Ramsey , who faces his former club when he returns to the Cardiff City Stadium .
During our short test of the Titan keys, PCMag found that it may take a few tries to set them up with your online accounts. Every time you log in to your account from a new device, you'll be prompted to enter your email address and password.
It also was an apparent reference to Saudi Arabia's regional foe Iran, which the coalition has accused of arming the Houthis. Last week, another strike to the south of the port city of Hudaydah killed at least 22 children and four women .
Of course, Samsungs 8K TVs support High Dynamic Range ( HDR ) but the company continues to ignore the premium Dolby Vision format. But it was the huge 8K television displays, along with The Wall and The Frame TV series, which stole the show.
On top of that, the government faces a major obstacle in November, when a $7 billion foreign exchange debt repayment is due. Macri's re-election prospects in next year's presidential race.
Allegri: Ronaldo needs time to adjust to Serie A
Mario Mandzukic bagged a goal and an assist to inspire Juventus to a 2-1 win over Parma in Serie A on Saturday night. Juve were drawn against Valencia and Young Boys along with Mourinho's men in Group H.
Unforgettable moments from Aretha Franklin's funeral
The Detroit native was quietly generous, often making donations under the radar and using her talent and resources for activism. Near the end, Stevie Wonder brought the dwindling audience to their feet, swaying to his classic tribute to love, "As".
Imran Khan launches massive tree-plantation drive in Pakistan
Mr Sidhu on Sunday said, "I will tell you why my hope about the improvement in relations of both the countries got strengthen". Pakistan is cooperating with Beijing's "Belt and Road" initiative, but the country's financial situation remains hard .
Pentagon moves to scrap US$300 million in aid to Pakistan
Qureshi said that the upcoming visit of US Secretary of State Mike Pompeo and other high officials was a "window of opportunity". The suspension is part of a broader pullback in military aid for Pakistan announced by the Trump administration in January.
Is Steven Gerrard smart enough to outfox his old boss?
We still need to improve and get bodies back that are fit. "Okay, today, the result didn't go our way, but it is our first defeat together so it is a setback, but we have to learn and grow and bottle this pain and frustration and try and use it in our favour after the break".
Son vows to lead South Korea to football gold
Abad placed third in the pencak silat men's single division finishing behind Indonesia's Sugianto and Thailand's Ilyas Sadara. Yuki Koike of Japan won the men's 200 in 20.23 in a photo finish, beating Yang Chun-han of Taiwan.
Xiaomi's Poco F1 features Snapdragon 845, costs $300
For in-depth comparisons of Poco F1 and OnePlus 6 , follow our social media pages so you will be notified when we do that here. Flipkart has dibs on online availability from today and Reliance Jio has 6TB of high-speed data for free for POCO customers.
Bobi Wine allowed to seek medical attention overseas
Accompanied by wife Barbie Kyagulanyi, Bobi on Saturday night thanked the world for "standing with us in these hard days". An attorney for Wine, Robert Amsterdam, told CNN that Wine arrived in Boston, and will later travel to Washington.