New Delhi, Nov 28, 2016: Indian economy grew 7.1% in first half of fiscal. The Indian economy grew at 7.1 per cent within the first half of the present fiscal, regardless of subdued progress within the global economy, Parliament was knowledgeable on Monday.

Indian economy grew 7.1% in first half of fiscal.

“Despite subdued progress on this planet economy, India has maintained a GDP development fee of 7.2 per cent in 2014-15, 7.6 per cent in 2015-16, and 7.1 per cent throughout April to September of 2016-17,” Commerce Minister Nirmala Sitharaman instructed the Lok Sabha in a written reply.

She mentioned the government has taken varied steps to spice up industrial manufacturing and progress, together with initiatives like Make in India and Startup India, liberalisation of foreign direct investment (FDI) guidelines and growth of business corridors as Indian economy grew 7.1% in first half of fiscal.

“Throughout April-September, 2016-17, IIP (Index of Industrial Production) declined by 0.1 per cent over April-September 2015-16,” Sitharaman mentioned.

“The annual progress of IIP elevated from minus zero.1 per cent in 2013-14 to 2.eight per cent in 2014-15, and barely decreased to 2.four per cent in 2015-16,” she added.

The Minister additionally stated the primary duty of industrial growth of backward areas rested with the state governments, whereas the central authorities dietary supplements their efforts by way of varied schemes when Indian economy grew 7.1% in first half of fiscal.

India’s final pre-demonetisation GDP figures, pertaining to the second quarter ending September, are more likely to be launched on Wednesday. Data for the third quarter ending December will think about demonetisation-induced slowdown.

In an effort to curb the menace of black cash, counterfeit currency and terror financing, the Centre demonetised Rs 500 and Rs 1,000 notes from November 8 midnight as Indian economy grew 7.1% in first half of fiscal.

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