India Steel Market Watch
December 1: The GDP, on a gross value added basis, grew at 7.4% in the July-September quarter compared to 7% in the May-to-June quarter.
The bulk of the increase in the GDP was contributed by private consumption, which increased by 6.8% and accounted for 55.1% of the rise in GDP from a year ago.
The government’s final consumption expenditure was up 5.2%, contributing as much as 10% to GDP growth.
Finance Minister Arun Jaitley said that the manufacturing sector recorded a "significant" growth of 9.3% in the September quarter despite an adverse global situation and hoped that private sector investments would pick up faster in the coming quarters.
He added, “when manufacturing starts turning despite globally adverse circumstances, I think that's a very significant figure from our point of view."